At the beginning of the coronavirus pandemic in early 2020, the typical home in the United States sold for less than $300,000, according to the National Association of Realtors.

By mid-2022, that figure had jumped to more than $400,000.

In an effort to address this common challenge, LendSure offers bridge home loans to help equity-rich homeowners. Our Bridge Financing program empowers borrowers to access equity from their current home to purchase a new home, with no monthly payments on the bridge financing. Borrowers can gain a competitive advantage in a hot housing market by making a non-contingent offer on the new property.

A bridge loan may be a good fit for borrowers who:

• Need to tap into the equity of their current home for down payment on the new property. This is a common conundrum for homeowners–especially those in highly competitive purchase markets, where they want to make a cash-like offer, without any financing contingencies. These borrowers are affluent, but they like the idea of using financing as a tool to reach their financial goals.
• Want to close on a new home before selling their current home. Let’s face it, timing a purchase to coincide with a sale is tricky. Many buyers might have to rent an apartment, stay in a hotel or move in with family for a few weeks or months. To avoid that inconvenience, many borrowers would love the flexibility to be able to carry two homes while the departure home is listed for sale. LendSure’s Bridge Financing allows a borrower to close on their next home while in process of selling their old home. If the borrower is not scheduled to close on the sale of their current home before closing on the new house, a LendSure bridge home loan gives them financial flexibility. Keep in mind that the departure home must be listed for sale to qualify for the Bridge Financing.
• Have chosen their next home and live in a seller’s market where houses sell quickly. While the housing market is cooling in many parts of the country, sellers continue to drive a hard bargain. Say your client wants to purchase a property but the seller won’t accept an offer contingent on the sale of the borrower’s current home. LendSure’s Bridge Financing removes that contingency and allows your client to move quickly.

The LendSure Way

It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are numbers and ratios and data to consider, but we know that behind every file, there’s an individual with a unique circumstance seeking a loan.  We work hard to offer our common-sense take on lending to borrowers seeking funding for the home of their dreams, another addition to their investment property portfolio or refinancing of a currently owned property.

Are you ready to grow your business? Conforming loan approval guidelines can be restrictive, but we want to offer our mortgage broker partners the education, the tools, support and the guidance they need in order to say “yes” to more of their clients.  This ensures happy borrowers and opportunities for bottom line growth. What are you waiting for? Let’s get started!

Are you ready to benefit from a commonsense approach to lending?  Contact us today to learn more about non-QM loans, bridge home loans and how partnering with LendSure Mortgage Corp. can help grow your bottom line.