After you get a separate house and sell your current house at the same time, you will need a connection financing. During the Pulgini & Norton, the experienced Boston a property attorney normally help you on every of your areas of your own home exchange, including obtaining a mortgage and you may bridge loan. The house capital attorneys suggest and you may depict customers, manufacturers, contacts, and lenders when you look at the Medford, Lowell, and you may The latest Bedford, one of most other Massachusetts organizations. Get in touch with Pulgini & Norton on 781-843-2200 otherwise using our very own on the internet form so you’re able to schedule a free session.
Advantages of Bridge Money
- Ability to purchase prior to selling
- Small financing identity, usually which have straight down appeal-merely payments
- Timely closure timelines as quickly as 15 months
- Versatile trader acceptance without place recommendations on bridge financing
Eligibility
- Shared mortgage-to-value (LTV) ratio around the departing and you will the brand new property of 65% otherwise smaller
- Have shown guarantee in most recent departing quarters
- Capacity to spend extra closings costs for origination charges
- Important refinance certification adopting the deals away from departing house