Tag Archives: bridge loan arizona

How to Buy and Sell a House With an Arizona Bridge Loan

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When you are needing to move, buying a new home while selling your
existing home can be a stressful and complicated process.  A Short term Arizona bridge loan can be a valuable took
to ensure you are able to buy the home you want and sell yours more easily.
 When you buy your
first home, you probably don’t think too much about the timing other than
issues like no one wants to move in the summer or when your lease is up at your
current rental. However, once you are looking to upgrade from your starter home
to something larger, timing become essential. Most buyers need to use funds
from their current home to fund the down payment on their new home. In an ideal
world, you would be able to close on your home in the morning and close on your
new home the afternoon of the same day. This sounds ideal but it rarely
happens. Due to market conditions and the stress of showing a home, trying to
sell and buy at the same time can seem almost impossible.

You may find
yourself stuck between a rock and a hard place. Although you can qualify for
both home loans, you can’t produce a down payment for the new home without
selling your existing home. Your home may not be getting any offers because a lived
in home does not show as well as a vacant or staged home, but you need
somewhere to live until you can purchase a new home. An Arizona Bridge loan is a specialized type of short term loan that can
help.

Arizona Bridge loans are short term loans meant
to help bridge the gap between selling your home and buying a new property. A
bridge loan is a short term loan that you can get in addition to a home
mortgage to cover the down payment. You will make payments on the bridge loan
until you sell your first property and can pay the loan back in full. The
bridge loan is contingent on the equity in the home that you are selling. An Arizona Bridge Loan has low debt to income
ratios and no set amount of paperwork for closing. Rather than being based on a
FICO score or income number, bridge
loans are based on what makes sense for each financial situation.
               

Benefits of  An Arizona Bridge Loan

Bridge loans
have several benefits for the borrower. Namely, they allow them to put their
existing home on the market without being inconvenienced with appointments for
showings. Because the owners have already purchased and moved into their new
home the home on the market can be de-cluttered and staged for optimum showing.
Staged homes sell more quickly and for higher dollar amounts that homes that
are lived in during showings. If getting top dollar for your home is your goal,
a bridge loan may help you move into your new home so that your existing home
shows at its best.

Another benefit of a bridge loan is that many do not
require payments for a couple months. Some mortgage brokers can get deals where
you won’t make payments on a bridge loan for up to four months. If you are able
to sell your home during that time you won’t ever have to make a monthly
payment on the bridge loan as you can use the cash you get from selling your
home to pay it off.

If
a an Arizona bridge loan sounds like a good option for you, find a mortgage broker in
Arizona to get started on the application process. 

Bridge loans can help you find and buy “the one” before your home sells. You can always make a contingency offer, meaning that you will purchase the home when yours sells. However, if you are in a multiple offer situation or a seller’s market, having a contingency offer accepted can be tricky. A bridge loan gives you the cash you need to buy the home before your home sells.


Call our office today to learn more about how bridge loans can help make your dreams come true!




Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    





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About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

3 Ways an Arizona Bridge Loan Can Lend a Helping Hand

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If you find yourself in a situation where there is a gap between expected income and current expenses, an Arizona bridge loan  can help. Designed to be a short term loan, there are many ways that bridge loans can lend a helping hand when you find yourself in a financial bind. 


An Arizona bridge loan is a short term loan that is designed to “bridge” the gap between expected income and a current expense. Bridge loans are a little known loan type that can be very helpful in a variety of financial situations. Here are three ways that an Arizona bridge loan can help you.

1. You need a down payment. If you are selling a home while concurrently purchasing a new one, you are probably relying on the sale of your current home to finance your down payment. This makes it impossible to move before you home sells, even if you can qualify for both mortgages. You can use an Arizona bridge loan to borrow your down payment. You would use the equity in your current house (the one on the market) to secure you bridge loan. The loan would then be used as a down payment and paid back after your home sells. This allows you to move before your home sells.

2. You own a business and have an expense before expected income comes in. If you are waiting on a big check but have an immediate expense, a bridge loan can be a great short term option to pay debts you owe. Once your income materializes, you use it to pay back your bridge loan.

3. You are expecting a windfall but have expenses before it gets there. Whether it is an equity payment, lottery payment, or even an inheritance, a bridge loan can help you pay what you need to while you wait for it to come in. Once it does, you use the funds to repay the loan.

If you find yourself in a situation where you would benefit from an Arizona bridge loan, call a mortgage broker today!

We can help you with all of your bridge financing needs. Call our experienced loan officers to get started today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    





You TubeFace Book  Active Rain  Linked In
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Evaluate the Risks and Benefits of an Arizona Bridge Loan

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An Arizona bridge loan is gaining in popularity as a short term loan
option. Like any loan, there are certain inherent risks and benefits. Knowing
how to analyze your loan will help you decide if it is a good option for you.


iStock_000004881875_Large.jpg
A bridge loan can be the
missing piece of your home
buying puzzle.

Arizona bridge loans are short term loans used when a borrower who has not sold his
current home wants to purchase a new home. These loans work to bridge the gap
when the borrower plans to use proceeds from the original home as the down payment
on his new home. The bridge loan is secured to the original home, the one
that’s on the market. The funds from that loan are used as the down payment for
the mortgage on the new home. 







There are no strict guidelines when it comes to an Arizona bridge loan so credit score
and debt to income ratio are not usually factors that will automatically
disqualify you. This is good news for borrowers with less than stellar credit
or who may have a high debt to income ratio once they purchase their new home.
Instead, bridge loans are based on a few different factors, including how
likely it is that you will sell your current home quickly, and whether or not
you can make both mortgage payments for a short time if it becomes necessary.
If you default on a bridge loan, the lender has recourse to get their money
back using the property you have on the market because it is the one that
secured the loan.






The Risks and Benefits of an Arizona Bridge Loan






There are several risks that are associated with bridge
loans. Like any loan, they are not entirely safe and can lead to some negative
consequences if you don’t fully evaluate their terms, conditions, and rates.
First and foremost, an Arizona bridge loan had fees associated with it. Generally there is an administration fee of
about $750, an appraisal feel (for your current home) of about $350. Once
notary fees, wire fees, origination fees, and any other lender fees are added
in, a bridge loan will end up costing the borrower about $2,000 to obtain. This
may seem like a lot, but if is the difference between buying your dream home or
losing out, many borrowers find that the fees are more than worth it.
Especially since it is much easier to come up with two grand for a bridge loan
than it is to find $20,000 for a down payment if your current home has not
sold.



Another risk to an Arizona bridge loan is high interest rates. Most short term loans are inherently
more risky for the lender. You will pay extra for that risk meaning you will
have a higher interest rate. Interest rates fluctuate based on the prime rate
and how much you need to borrow, but typically speaking the interest rate on
bridge loans is usually higher than a traditional home mortgage. You can avoid
paying high interest rates by selling your home quickly and paying back the
loan as soon as possible.




iStock_000009434134_Full.jpgAlong with the risks, there are also several benefits to an Arizona bridge loan. Many loans offer
terms that allow you to skip the first few months of payments. If you can sell
your home during this time, you can avoid paying any interest at all on the
loan. In addition, you can use extra proceeds from the loan to do remodel work
on your new home and put your own personal stamp on it.




Also, bridge loans allow you to put your current home on
the market quickly and without restrictions. Potential buyers will not need to
schedule showings because the home will be vacant. A vacant home is easier to
show and usually sells more quickly due to ease of access. You can also look
into staging your home to give you an extra advantage. And without your family
living there, it will be easier for new buyers to picture themselves living in
the home.




Bridge loans are also usually fairly easy to qualify for
and have flexible underwriting guidelines. This makes them an ideal loan for
someone who needs cash for their new home fast.




Call an Arizona
mortgage broker or private lender to get started on a bridge loan today.






Once you are settled in your new home, you will be happy
that you chose to use an Arizona bridge
loan to help you get cash fast and with little hassle.

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    





You TubeFace Book  Active Rain  Linked In
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Save Money and Buy a House With an Arizona Bridge Loan

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An Arizona bridge loan is a
special type of loan that can help you buy a new home. It is
important that you know your options and what the risks and benefits of a bridge loan are so that you can make an informed financial decision. 

An Arizona bridge loan is a
specialized short term loan that can be useful for real estate transactions. It
is a short term loan that allows you to use the equity in your current home as
a down payment on a new home before your current home sells. As the name
implies, an Arizona bridge loan is
designed to “bridge” the gap by giving you funds for a down payment. The loan
is paid back with the proceeds from you home sale.
A bridge loan can be very beneficial in many ways because it allows you
to buy a new home and put yours on the market without any restrictions. When
you are living in a home while you are trying to sell it, scheduling showings
can be a nightmare, especially if you have pets or kids. It is also difficult
to keep your home show ready and leave at a moment’s notice. Many buyers will
also have trouble picturing themselves in your home while your stuff is there. A
bridge loan can allow you buy another home while yours is still on the market
by fronting you the down payment.
An additional benefit of a bridge loan is that it is relatively easy to
qualify for. There is not a lot of paperwork and since many borrowers will have
a high debt to income ratio because they own two homes for a short period of
time, debt and credit scores are not as important as they are in traditional
loans. However, keep in mind that you will still need to qualify for two mortgages so make sure all of your financial ducks are in a row. 

Important Things to Consider when
Thinking About an Arizona Bridge Loan

If an Arizona bridge loan sounds
like it might be a good option for you, it is important to know all of the
risks and benefits and know the ins and outs of your loan terms. Make sure you
are in the driver’s seat and in control of your loan at all times. Here are a
few things to keep in mind.
1.      
An Arizona bridge loan may have a high interest rate. Since a bridge loan is a short
term loan and is secured by the sale of your current home, the lender is taking
a fairly significant risk in extending you the credit. The more risky the loan,
the higher the interest rate. Although interest rates do fluctuate, you can
expect to pay more than the prime rate and your rate could climb as high as the
double digits.
2.      
You can avoid paying interest. Although the loan
itself has a high interest rate, shopping around for the right loan can help
you avoid paying any interest at all. Many bridge loans allow you to skip the
first few months of payments. If you can sell your home during this time
period, you can pay the loan back before any interest accrues.
3.      
There will be fees. An Arizona bridge loan has several fees associated with it. You will
pay an administration fee of about $750 and an appraisal fee on your current
home to ensure it is worth what you need to sell it for. In addition, you will
pay wire fees, origination fees, and points which will be dependent on the
amount of your loan. When all is said and done you will probably end up paying
about $2,000 to secure your bridge loan. For most borrowers this is well worth
it to get them into their new home sooner rather than later. Also, keep in mind
that the fees will vary depending on your lender so shop around.

If an Arizona bridge loan sounds like a good option for you, start
looking at your options today!

An Arizona mortgage
broker or private lender can help you get started on getting your bridge loan.
Call our office today to schedule an appointment. You will be glad you did!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    





You TubeFace Book  Active Rain  Linked In
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Make Your Dreams Come True With an Arizona Bridge Mortgage

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If you dream of buying a new home, but need cash from the sale of your current home for your down payment, you may find that moving is just a dream. However, you can make that dream a reality with an Arizona bridge mortgage to help finance your down payment and move to a new home before your current home sells. 


If your home is on the market, you know that selling a house is stressful. Between keeping it clean and leaving at a moment’s notice for showings, you may find that you barely even have time to look for a new home. Moving may seem like a pipe dream. However, with an Arizona bridge mortgage you can start looking for and even move into your new home before your current home sells.

If you qualify for both mortgages but have to use funds from your home sale for your down payment, then an Arizona bridge mortgage may be just what you need to move. A bridge mortgage is a specialized loan that you borrow against your current home, the one on the market. You borrow what you will need for the down payment on a new home. You purchase your new home using your bridge funds. Once your current home sells, you use those funds to pay back your Arizona bridge mortgage. So, basically a bridge mortgage helps bridge the gap between your current home selling and purchasing a new home.

If a bridge mortgage sounds like an ideal way to make your dreams come true, talk to an Arizona private lender about how to go about funding one. A bridge mortgage is a non-traditional loan so you can’t get it from a bank. A bridge mortgage is similar to a home equity loan but it can be used for a home that is on the market (usually you can’t take out a home equity loan using a home that you are selling as collateral).

When you are choosing a lender for your Arizona bridge mortgage, make sure that you pick a licensed mortgage broker. This will help protect your investment and ensure that the individual funding your loan has experience and knows what he’s doing.

Don’t let endless showings and waiting on your home to sell delay the purchase of your dream home! Find out about an Arizona bridge mortgage today!

Once you are settled in your new home, your old home will most likely sell more quickly and for top dollar. Don’t delay your dreams any longer, find out about a bridge mortgage today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    

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Active Rain
Linked In

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Get a Bridge Loan Arizona Financial Experts Trust

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According to many experts, you only need a few things to sell your house, a bridge loan, Arizona real estate agent, and a good price. If you are interested in learning more about how to make your home selling dreams come true, a bridge loan might be the right option for you and your family. 

Selling a home while you are still living in it can be a nightmare, especially if you have kids or pets. Keeping the home show worthy, leaving for each showing, and simultaneously looking for a new home to move into is enough to make anyone lose their mind. If you find yourself in this situation, you may think there is no other option. After all, even if you can qualify for two mortgages, most sellers rely on the sale of their current home to finance the down payment on the new home they are purchasing. 
If you need the proceeds from the sale of your current home to use as a down payment on a new home, there is an option that can help you move before you sell. You can get a bridge loan Arizona real estate experts recommend to finance your down payment. 
A bridge loan is exactly what it sounds like, it helps bridge the financial gap between selling your current home and needing a down payment for a new home. With a bridge loan, Arizona families can borrow the down payment for the new home using their home that is up for sale as collateral. Once your home sells you pay back your bridge loan. Usually this time frame is so short that many borrowers don’t even end up paying interest on their bridge loan. 
With a bridge loan, Arizona borrowers benefit from being able to sell their home more quickly and with less hassle. A vacant home shows better than one that is filled with clutter and you don’t have to worry about scheduling showings. You can be in your new home while your home is still on the market. 

3 Things you Need to Know About A Bridge Loan Arizona Home Sellers Use To Finance A Down Payment

A few things you should know about bridge loans before you apply. Firstly, you have to have fairly good credit and a pretty high income. Not for the bridge loan itself, but you have to be able to qualify for two mortgages because, for a short time, you will own both homes. There are ways around this using ARMs and hard money loans, so talk to your financial professional if you don’t meet this criteria. 
Secondly, you need to know that you can’t walk into a bank and request a bridge loan. A bridge loan is a specialized type of loan that is usually given by a private money lender. The closest thing a bank has to offer is a home equity loan but most banks won’t give out this type of loan on a property that is for sale. Your best bet is to find a company for a bridge loan Arizona financial experts trust like the licensed brokers at Level 4 Funding. 
Finally, bridge loans are short term loans, meaning they have higher interest rates than traditional mortgages. However, talk to your loan officer about a longer grace period. Often, you end up selling your home before your grace period is over and don’t even have to make a payment on your bridge loan. 

Once you have decided that a bridge loan Arizona is the right help for you, contact a private money lender to get the process started today!

Call our experts at Level 4 Funding to get your bridge loan financed today. Don’t delay your move or make selling your home more stressful than it needs to be. With a bridge loan you can move today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    

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Linked In

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Eager to Move? Here’s How an Arizona Bridge Loan Can Help

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If you need to move quickly but don’t have the cash for a down payment until your current home sells, an Arizona bridge loan may be just what you need to help make your dreams come true. Learn the risks and benefits of a bridge loan to decide if it is the right choice for you. 


If you are trying to sell your home, you know that it can take a while, especially if you are still living in it. Between picky buyers who can’t see around your furniture to trying to keep it clean for showings that are often erratic and unproductive, you may feel that you will never be able to sell your current home. Which may be fine, but it probably isn’t. Whether you need to move for work or simply to have more space, you may need to get out of your current home quickly.

You may be able to double qualify for two mortgages which would make it possible to move while your current home is still on the market. However, even borrowers who can qualify for two mortgages may find themselves short on their down payment for their new home. Even at only 5%, your down payment can be upwards of $20,000 and most people don’t just have that sitting in a savings account. You are most likely relying on the sale of your current home to finance your down payment into your new house.

This is where an Arizona bridge loan comes into play. An Arizona bridge loan is a short term loan
designed to bridge the gap between your current home selling and you needing to move into your new home. You use the bridge loan funds as a down payment on the new home, and when your current home sells you pay back the bridge loan with funds from the sale. This will allow you to move almost immediately and will make it easier to sell your current home.

What You NEED to Know About Your Arizona Bridge Loan

While an Arizona bridge loan is a great way to get cash for a down payment, it is important to be aware of all the terms and conditions of your loan. Typically, bridge loans have a higher interest rate than most long term financing options. However, you can often find grace periods that allow you to skip payments for a month or two. If your home sells during that time you may not even end up making a payment on the loan and will avoid all interest charges. You also have to be able to qualify for two mortgages so most bridge loan borrowers will need to have relatively high incomes and decent credit scores. 

Traditional banks don’t have access to Arizona bridge loan funds, so call a private lender today!

If you need to move, don’t wait. Contact our bridge loan specialists at Level 4 Funding to get started on the bridge loan process today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701    

You TubeFace Book

Active Rain
Linked In

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Eager to Move? Here's How an Arizona Bridge Loan Can Help

arizona bridge loans, , , , ,

In the event you want to transfer shortly however haven’t got the money for a down fee till your present dwelling sells, an Arizona bridge loan could also be simply what you want to assist make your goals come true. Be taught the dangers and advantages of a bridge loan to determine if it’s the proper selection for you. 



If you’re attempting to promote your house, you realize that it may well take some time, particularly if you’re nonetheless residing in it. Between choosy patrons who cannot see round your furnishings to attempting to hold it clear for showings which are typically erratic and unproductive, chances are you’ll really feel that you’ll by no means have the option to promote your present dwelling. Which can be positive, however it in all probability is not. Whether or not you want to transfer for work or just to have extra space, chances are you’ll want to get out of your present dwelling shortly.

Chances are you’ll have the option to double qualify for 2 mortgages which might make it attainable to transfer whereas your present dwelling continues to be available on the market. Nevertheless, even debtors who can qualify for 2 mortgages could discover themselves quick on their down fee for his or her new dwelling. Even at solely 5%, your down fee could be upwards of $20,000 and most of the people do not simply have that sitting in a financial savings account. You’re most probably counting on the sale of your present dwelling to finance your down fee into your new home.

That is the place an Arizona bridge loan comes into play. An Arizona bridge loan is a brief time period loan

designed to bridge the hole between your present dwelling promoting and also you needing to transfer into your new dwelling. You utilize the bridge loan funds as a down fee on the brand new dwelling, and when your present dwelling sells you pay again the bridge loan with funds from the sale. This may permit you to transfer nearly instantly and can make it simpler to promote your present dwelling.

What You NEED to Know About Your Arizona Bridge Loan

Whereas an Arizona bridge loan is an effective way to get money for a down fee, it is vital to concentrate on all of the phrases and circumstances of your loan. Sometimes, bridge loans have a better rate of interest than most long run financing choices. Nevertheless, you’ll be able to typically discover grace durations that permit you to skip funds for a month or two. If your house sells throughout that point chances are you’ll not even find yourself making a fee on the loan and can keep away from all curiosity costs. You even have to have the option to qualify for 2 mortgages so most bridge loan debtors will want to have comparatively excessive incomes and respectable credit score scores.

Conventional banks haven’t got entry to Arizona bridge loan funds, so name a private lender in the present day!

In the event you want to transfer, do not wait. Contact our bridge loan specialists at Stage four Funding to get began on the bridge loan course of in the present day!

 

Dennis Dahlberg Dealer/RI/CEO/MLO

Stage four Funding LLC
Arizona Tel:  (623) 582-4444 
Arizona Tel:      (512) 516-1177 
dennis@level4funding.com
www.setabay.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378

22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Arizona | 78701    






 
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In regards to the creator: Dennis has been working in the true property trade in some capability for the final 40 years. He bought his first property when he was simply 18 years previous. He shortly realized concerning the superb funding alternatives supplied by trust deed investing and hard money loans. His want to assist others make money in actual property investing led him to specialise in different funding for actual property traders who could have hassle getting a standard financial institution loan. Dennis is captivated with different funding sources and sharing his data with others to assist make their goals come true.
Dennis has been married to his fantastic spouse for 38 years. They’ve 2 stunning daughters four superb grandchildren. Dennis has been an Arizona resident for the previous 32 years.

How To Use a Arizona Bridge Loan To Make Your Dreams Come True

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 In case you are attempting to purchase and promote a dwelling on the similar time, a Arizona bridge loan could be a worthwhile
software to have. This sort of quick time period study may help just remember to get
your dream dwelling with only a few dangers.
A Arizona bridge loan is a
specialised quick time period loan that may be helpful for actual property transactions. It
is a quick time period loan that lets you use the fairness in your present dwelling as
a down fee on a new dwelling earlier than your present dwelling sells. Because the identify
implies, a Arizona bridge loan is
designed to “bridge” the hole by supplying you with funds for a down fee. The loan
is paid again with the proceeds from you dwelling sale.
An Arizona bridge loan is a
worthwhile software as a result of most consumers depend on the sale of their present dwelling to
provide you with the down fee for his or her new dwelling, nonetheless, it’s not all the time
possible or splendid to shut on the present dwelling first. In a excellent world, you
shut on your house within the morning, have funds out there by midday and shut on
your second dwelling earlier than the enterprise day is over. Nevertheless it very not often works this
method. Extra typically, you shut in your present dwelling and have to search out a quick time period
rental for a month or two earlier than you shut on a new dwelling. This isn’t solely
costly, nevertheless it causes you to have to maneuver twice and you might be actually
throwing money away by renting.
One resolution to the issue is an Arizona bridge loan. A bridge loan bridges the hole by lending you the down fee
for a new dwelling that you just then pay again as soon as your house sells. The bridge loan is
secured to the customer’s current dwelling. The funds from the bridge loan are then
used as a down fee on the brand new dwelling. Bridge loans are gaining in reputation
as a down fee possibility as a result of they provide versatile phrases and are comparatively
straightforward to qualify for. Additionally, many lenders won’t let you take out a dwelling
fairness loan on a dwelling that’s listed on the market, so in lots of instances a bridge loan
is the one choice to provide you with money for a down fee.

7 Things to Consider if You are Thinking About a Arizona Bridge Loan 

Like every loan, a bridge loan has sure dangers and advantages. Understanding
all of your choices and going into it absolutely knowledgeable will assist you to threat much less and
profit extra. Listed here are 5 necessary issues to bear in mind if you’re
excited about getting an Arizona bridge
loan.
     1.     You’ll pay a larger rate of interest. Like many
quick time period loans, bridge loans have larger rates of interest than 30 yr loans.
You often have a grace interval of 1 to four months relying in your loan phrases
and should you pay the loan again with proceeds from your house sale, you possibly can often
keep away from paying a lot of curiosity.
     2.   Qualification is often a straightforward and painless
course of. Most lenders should not have set FICO scores or debt to revenue ratios for
bridge loans. As an alternative, qualification is predicated on a full image of your
funds and whether or not it is sensible to buy a dwelling earlier than you promote your
present one.
three.
A bridge loan can prevent money. For those who wait to
buy your new dwelling till your outdated dwelling sells, chances are you’ll find yourself needing a
quick time period rental. That is actually throwing money down the drain. Getting the
proper Arizona bridge loan and
promoting your present dwelling rapidly can truly prevent fairly a little bit of money.
four.
There might be charges. An Arizona bridge loan has a number of charges related to it. You’ll
pay an administration payment of about $750 and an appraisal payment in your present
dwelling to make sure it’s value what you have to promote it for. As well as, you’ll
pay wire charges, origination charges, and factors which might be depending on the
quantity of your loan. When all is claimed and executed you’ll in all probability find yourself paying
about $2,000 to safe your bridge loan.
5.
Yow will discover your new dream dwelling with out the
stress of getting to promote your current dwelling first. You don’t have to attend or
make unattractive contingency affords. You should purchase your new dwelling
instantly which can often get you a higher worth and assist ensure you get
the house you need.
6.
You will have to have the ability to qualify for 2
mortgages. A bridge loan may help you with a down fee, however you’ll nonetheless
must qualify for 2 mortgages and be capable of make month-to-month funds on each
if push involves shove. Nonetheless, most mortgages don’t require a fee for the
first month so should you promote your house rapidly, you possibly can often keep away from double
funds.
7.
A bridge loan may cause stress. In case your present
dwelling doesn’t promote rapidly, you’ll find yourself paying the mortgage on it, the
mortgage in your new dwelling, and the fee in your bridge loan. Make certain to
rigorously consider your funds to make sure which you can make your funds for
a quick time if you have to. You can too assist get rid of monetary stress by
pricing your present dwelling to promote rapidly.

As soon as
you’ve gotten evaluated the professionals and cons of an Arizona bridge loan, contact the monetary professionals at Degree four Funding to get
your software began!

 

The earlier you apply to your bridge
loan, the earlier you may get money in hand to your down fee. Don’t let your
dream dwelling slip away since you are ready to your present dwelling to promote.
Discover out the advantages of bridge loans immediately!

Dennis Dahlberg
Dealer/RI/CEO/MLO

Degree four Funding LLC
Arizona Tel:  (623) 582-4444 

Arizona Tel:     (512) 516-1177 

www.setabay.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112
Phoenix AZ 85027


 
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