Bridge Loans in Phoenix . Glendale . Scottsdale
Glendale is placed in the county of Maricopa, Arizona. It is just about fourteen kilometres from Phoenix. It was a desert until the year 1891 when the earliest settlers came in after William John Murphy finished his project of bringing water, as well as constructing a road leading to the desert. Murphy called the desert “Glendale” to attract potential setters and investors, and it has retained its name until today. There are many attractions for visitors here, such as Thunderbird Conservation Park, Westgate Entertainment district, and Wet n Wild Phoenix. You have come to the correct place if you are in search of a Hard Money Lender that provides bridge loans at competitive rates in Glendale, Phoenix and Scottsdale.
Are you looking a bridge loan?
A bridge loan is a short-term credit used to find a new property. It permits you to borrow money against your present homes equity and use it for the down payment on your new home. A bridge loan is an amazing choice for homebuyers who want to buy a new home without the pressure of a quickly selling their present one.
Call now: 866-986-0192
or
Ready To Get Your Private Money Loan?
PRIVATE MONEY LENDING RATES STARTING AT 7.49% APPLY NOWCONTACT USHow bridge loans work
A bridge loan is used to make a down payment for a new home in a real estate industry. As a homeowner looking to purchase a new home, you have two choices.
The primary option is to add a contingency in the contract for the home you intend to buy. The contingency would state that you will only buy the home after the sale of your old home is complete. Anyway, some sellers might reject this choice if other ready buyers are willing to buy the home instantly.
The second option is to obtain a loan to pay a down payment for the home before the sale of the first home goes though. You can take a bridge credit and use your old home as collateral for the loan. The proceeds can then be used to pay a down payment for the new home and covers the costs of the credit. In most cases, the lender will provide a bridge credit value about 80 percent of the combined worth of both homes.
Business owners and firms can also take bridge loans to finance working capital and use for expenses as they await long-term financing. They can use the bridge credit to cover expenses such as payroll, utility bills, and inventory costs. Distressed businesses can also take up bridge credits to make sure the best running of the business, while they search for a big investor or acquirer.
Why get a mortgage bridge loan with Sunset Equity Funding?
At Sunset Equity Funding, we know how hard it can be to try to sell your present home before moving into a new one. Let us help you ease of that issue with a bridge loan. When you get a bridge loan from us, you will advantage from:
Digital convenience: You can simply apply online in just minutes.
Competitive rates: We offer bridge loans at competitive rates.
Complete service approach: Our professionals are here to help at every step of the credit process.
Loan expertise: You can count on a smooth loan credit process, thanks to our breadth of industry experience.
