Borrowers Can Buy Their New Home without Having Sold Their Old Home
LendSure Bridge Financing Program
LendSure’s new 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.
How it works:
- LendSure’s Bridge Financing Program pays off the existing lien while providing the cash out needed for down payment on the new home.
– Equity used for down payment for the new home
– No monthly payments on the bridge financing
- Primary Residence:
- Up to 75% LTV on bridge loan for loan amounts up to $1,000,000
- Up to 70% LTV on bridge loan loan amounts between $1,000,000 to $1,500,000 (750 FICO required)
- Non-Owner Occupied and Second Home:
- Up to 65% LTV on bridge loan for loan amounts up to $750,000
- Up to 60% LTV on bridge loan loan amounts between $750,000 to $1,500,000 (750 FICO required)
- Balloon payment due in 12 months with NO MONTHLY PAYMENTS REQUIRED
- Bridge financing only available in conjunction with financing on the new purchase home
Our knowledgeable Account Executives are experts in Non-QM loans and will help you find solutions for your borrowers so you can close more deals each month. Contact your LendSure Account Executive to talk through your borrower’s loan scenario.