Buy Before You Sell
Although we pride ourselves on the fastest closings in the industry – with our Bridge Loan mortgage you won’t have to rush. The Treadstone Bridge Loan allows our customers to make an offer on a new home without being rushed to complete the sale of their current home. Also referred to as an equity forward mortgage or loan, the bridge loan can provide the down payment for your new home by using equity in your current home. In many cases, making an offer noncontingent on the sale of your current home, increases buying power and give you flexibility in your homebuying process.
• Minimum loan amount of $40,000
• Max loan term of 90 days between closing bridge loan and selling current home
• No payments due within 90 days (must be paid off in full at end of term)
• Mortgage on ‘new home’ must be conventional
• A minimum of 25% equity in current home
• Can often be done without an appraisal if home is currently listed on the MLS