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Bridge

Loans

Buy Before You Sell!

In a hot housing market, particularly a seller's market, you may come across a home you MUST have, but what if you haven't sold your current home and don't have enough money to cover a new down payment? Then a bridge loan may be the right fit for you.

How does a Bridge Loan Work

A bridge loan pays off the existing lien while providing the cash needed for a down payment on a new home. You can use the equity in your current home as a down payment for the new house with no monthly payments on the bridge financing. It is two separate loans, a cash-out refi on the departing residence up to 75% LTV and a purchase loan on the new property.

Bridge Loan Benefits

  • Gives you the opportunity to buy a new house before you've sold your current home. 

  • Helps you gain a competitive advantage in a hot housing market by allowing you to make a non-contingent offer on a new home. 

  • Offers a short-term financing solution with a balloon payment due in 12 months. 

  • NO MONTHLY PAYMENT REQUIRED.*

*  Daily interest is added to the payoff, and 12 months of taxes & insurance are impounded at closing. 

Bridge Loan Details

 

  • Loan Amounts between $250,000 and $2M.

  • Min. 680 FICO.

  • Max LTV 75% up to $1M, 70% LTV for $1M to $1.5M, and 65% LTV for $1.5M to $2M.

  • Listed property can be primary, 2nd home, or investment property.** 

  • Purchase must be owner-occupied or 2nd home unless prior approval is granted. 

  • Only available in conjunction with financing on the new purchase home. 

  • 12-month post-close reserves on the purchase property. 

  • Property must be listed prior to closing on the MLS.

* * Investment properties cannot be held in a 1031 exchange.

Bridge the Gap.

Download One-Sheet

Is a Bridge Loan right for you?

Reach out to one of our Mortgage Bankers who will assist you in your search!

Back To: Fix & Flip Loans

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NMLS     |     FAIR LENDER     |     FAIR HOUSING

Equal Opportunity Housing. Arcstone Financial Inc. is a California Corporation licensed by the Department of Real Estate, License #01468445, NMLS# 344236. Information subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All rates, fees, and programs are subject to change and/or withdrawal from the lending practices without notice. Eligibility can vary based on meeting minimum credit score/tradeline, documentation, Loan to Value, and occupancy. Ask to speak with a home loan consultant for a pre-qualification/pre-approval or an approval.

1917 Hillhurst Ave., Suite 203

Los Angeles, CA 90027
323-665-5000 | 800-830-5626

info@arcstoneinc.com

NMLS     |     FAIR LENDER     |     FAIR HOUSING

Equal Opportunity Housing. Arcstone Financial Inc. is a California Corporation licensed by the Department of Real Estate, License #01468445, NMLS# 344236. Information subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All rates, fees, and programs are subject to change and/or withdrawal from the lending practices without notice. Eligibility can vary based on meeting minimum credit score/tradeline, documentation, Loan to Value, and occupancy. Ask to speak with a home loan consultant for a pre-qualification/pre-approval or an approval.