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Answers (4)
- Julann Carney, "Julann Carney"
- Contributions:208
Have you thought about an equity loan based on your primary residence since it is paid in full instead of a bridge loan? You may be able to work with a local lender with a bank loan instead of a mortgage based on the asset value of your home.
If you need a local bank contact, I'd be happy to provide you with one to see if they could be of asssitance.
Best of luck!
Julann Carney, Realtor
If you need a local bank contact, I'd be happy to provide you with one to see if they could be of asssitance.
Best of luck!
Julann Carney, Realtor
- wayne lancaster, "funds2"
- Contributions:1175
If you are saying that you want to purchase a home for $35K -$45K and have $15K to put down, then a bridge loan would not be necessary as you have 33% for a down payment. You would however have to qualify to carry taxes and insurance on current home, and all other debt you may have. Your credit score could be an issue but if above 640 that would not likely be a stumbling block. Credit score could be even lower with a 15 yr loan or a portfolio lender loan. How low is your score?
- Andrew Adams, "203K Specialist"
- Contributions:9349
Low credit score and looking for a bridge loan...even if you find one I suspect they will require 700+FIFO.
- wetdawgs
- Contributions:26804
You mentioned "low credit score". Even if you didn't need a bridge loan but a primary purchase loan only, the low credit score may be a major stumbling block.
Do you have Bridge Loans
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