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)
- Up to 65% LTV on bridge loan for amounts between $1,500,000 to $2,000,000
- 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 over $750,000
- 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.