Bridge Loans, also known as interim loans, provide short-term financing to clients that need immediate funds until long-term financing is arranged.
They are called "Bridge Loans" because they were created to "bridge" the gap between the purchase of a new home and the sale of the borrower's current home. Some payoff the old home's first mortgage but others simply add
the new debt to the old. They run for a term of three months to one year.
For more information, fill out our brief, no-obligation application. Once Terry Williams, The Mortgage Doctor receives it, he will contact you to explain the details, such as payment and rate options as well as the benefits of obtaining an interim loan.
Need more information? Call Terry Williams, The Mortgage Doctor at (402) 301-4500 or start an application today!
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