Found the home of your dreams, but still have a home to sell?? A Home State Bridge Loan may be the answer!
A Bridge Loan let's you take advantage of the equity in your existing home, and provide the down payment that you need to purchase your new home. Here's how it works:
- A Bridge Loan is used to pay off the mortgage loan on your existing home, with extra funds available for the down payment on your new home.
- Loan amounts are based upon the value of your existing home.
- Closing costs can be paid from the loan proceeds.
- Terms of up to six months are available – with renewal options should your home not sell in that timeframe.
- Monthly payments are available on an interest only basis.
Home State will also handle the financing for the purchase of your new home, simplifying the application process.
Apply Now You may also apply by phone by calling 866-314-BANK (2265).