Bridge Loans, sometimes called Interim loans, are short term financing loans used to provide immediate funds until long term financing can be obtained.Bridge loans essentially "bridge" the gap between the purchase of a new home and the sale of the borrower's current home. Some are structured so they completely pay off the old home's first mortgage at the bridge loan's closing, while others pile the new debt on top of the old. They usually run for a term of three-six months and sometimes up to a year. An ENG Bridge Loan specialist can advise you on payment and rate options available under our bridge programs. Fill out our 30-sec., no obligation application and we will contact you within hours to further explain the details and benefits of obtaining an interim bridge loan.
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