Bridge Loan & Listing Enhancement Loan
February 2, 2021 2021-03-22 14:04Bridge Loan & Listing Enhancement Loan
Bridge Loan & Listing Enhancement
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WHAT IS A BRIDGE LOAN?
Bridge loan is one of those financial terms that many probably don’t understand. This may be what keeps lots of people from getting a bridge loan, which is unfortunate. Bridge loans can be extremely useful for a lot of consumers and can make buying a home easier.
What are bridge loans?
First, bridge loans are temporary loans secured by some type of asset, usually a home. The name bridge loan describes them quite well. The bridge refers to the gap between one loan and the other when you don’t have any capital.
For instance, you can place your home on the market, take out a bridge loan against the home, and use that bridge loan to pay the down payment on your new home.
Simply put, you don’t need to wait to sell your home to purchase a new home. The bridge loan allows you to purchase your new home while you wait to sell your old one.
B4Usell Collateral
B4USell is the one-of-a-kind program that allows for you, the Realtor to offer your clients:
- Ability to make their next home purchase a reality with creative financing
- Clients can use just the bridge, just the enhancement loan, or both!
Bridge Loan Flyer
Listing Enhancement Loan
A listing enhancement loan is financing you use to pay for home remodeling or repairs that can add value and enjoyment to your home. When you get a listing enhancement loan, you use the loan funds to pay your contractor or buy supplies to complete the work, then pay the loan off over time. A listing enhancement loan is helpful if you don’t have cash to pay upfront for home improvement expenses.
A listing enhancement loan is helpful if you’re choosing to preserve cash for other personal business or family expenses. And the loan can be paid off at the close of escrow, from your net proceeds.