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Get a car loan online to buy a new or used car,
even if you have a history of bad credit or bankruptcy.
We process and review each bad credit car loans
request for pre-approval. Our service is free and
has helped people nationwide get a car loan and
buy a car with bad credit. |
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Bridge Loan
Source: NationalFinancer.com
What does the term bridge loan means? Are people really
borrowing money to buy a bridge? No, but people are purchasing
homes and that means many of them are selling homes.
Rarely does someone sell their house at the same time
the close on their new home. Under normal circumstances
people sell their old home first and use the proceeds
from the sale as money down towards their new home.
Sometimes, however, people wish to purchase a new home
before they sell their current home.
Bridge loans cover the financing of a buyer's new
house while they still own another home. These loans
provide a good way to use the equity of the house you
own before you sell it. While this provides a prospective
home buyer with the flexibility they may need to finance
their new home, bridge loans are not a perfect solution.
Bridge loans can be costly due to high fees generally
attached to this type of loan. They provide money for a
short time, usually six months, and normally require the
borrower to pay the loan in full within twelve months.
If the old home has not sold within the time frame of
the bridge loan, the borrowers often have to find a new
finance source for both homes.
These loans are risky, they should only be used when you
have to move to a new home, for example if you are relocated
for employment purposes and cannot rent at your new location.
The best advice is to sell either close the sale of your
current home before you close the sale of your new home.
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To get preapprove financing
you should have: |
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$18,000 annual income or $8.65 per hour. |
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Permanent, non-temporary or seasonal
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One reposession in the last five years. |
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No multiple bankruptcies. |
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Living in the USA or Canada |
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TestimonialsWith your help, we finally have a pick-up truck once again, and we are on our way to re-establishing our credit. Our lives have rally taken a turn for the better thanks to you.
John C, Garden City
I thought it would be years before I could be able to be financed again, but the you did everything you could to help me reestablish my credit. And now I’m on my way to clearing my report up and driving a very nice & reliable vehicle. Thank you for giving me chance.
James T., Howell
FAQsHow does this work?
Based on the information you provide we will find a dealer within our network that accepts your application. Acceptance is based on the ability to match your credit profile with available lender programs.
What if I’ve never had credit?
Our dealers have custom programs for first time buyers.
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