Have you ever thought about your next home but don’t have the funds for a down payment? Is your money tied up in your current home? Think you need to sell in order to buy? Think again! Compass has recently introduced Bridge Loans services, so now we are able to secure funding for our buyers who want to make their next purchase without having to wait!
No out-of-pocket costs:
With these services, you can access competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your loan payments fronted when you sell your home with us.
Is your money tied up in your current home?
If you need to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home — like for a down payment or mortgage payments. Once your current home sells, you’ll use the proceeds to pay the bridge loan back.
Do you need to move within a specific timeframe?
If you’re relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.
Does your home require renovations or other work?
Whether you’re using Compass Concierge to increase your home’s value, or are making improvements on your own, it may be easier to have construction work done when you’re out of the house. A bridge loan can help you move faster so you’re out of the house while those improvements are being completed.