Bridge loans. A bridge loan is a mortgage loan that is used when a buyer needs equity (proceeds) from their current property that is listed with a Real Estate Agent, but not yet sold or closed. With a bridge loan, interest accrues until the loan is paid off (when the property is sold and successfully closed) however, typically payments are not due on the bridge loan.
Mortgage Master offers Bridge Loans to facilitate transactions where they are doing the financing on the purchase loan on subject to approval by Mortgage Master's Board. For more information, contact Rhonda. |
