Bridge Loans
Our Bridge Loan Can Help You Get Into Your New Home
Our Bridge Loans can help homeowners purchase a new home while waiting for their current home or second home to sell. It is a short-term loan that is designed to provide temporary financing for a new primary residence up to $750,000. The equity in the current home is used for the down payment on the purchase of a new home, while waiting for the current home to sell.
How Does a Bridge Loan Work?
- Gives you access to the equity in your current home
- Pays off any existing liens on your current property
- Allows you to pay only the interest on the bridge loan while making mortgage payments on the new home
- Is paid off when your current property sells
Benefits of a Bridge Loan
- Avoid moving twice
- Access equity quickly without waiting to sell
- Present a stronger purchase offer
- Interest-only payments
- Six-month term
- Up to 2 possible extensions
CONTACT US FOR MORE INFORMATION ABOUT BRIDGE LOANS
Get Started on Your Journey Home
Knowledge Base
Essential Checklist for First-Time Homebuyers
Essential Checklist for First-Time Buyers: Your Path to a Successful Mortgage Journey Buying your first home is an exciting milestone! To ensure a smooth and …
DC Open Doors and the Maryland Mortgage Program
DC Open Doors and Maryland Mortgage Program Purchasing a home can be a daunting experience, especially if you’re a first-time homebuyer. One way to make …
9 Tips To Help You Prepare to Purchase Your First Home
9 Tips to Help You Prepare to Purchase Your First Home Buying your first home is an exciting milestone in life, but it can also …
Greenbelt Home Advantage
The Maryland Mortgage Program – Greenbelt Home Advantage Are you a renter in the City of Greenbelt? We are excited to share that if you …
The Building and Financing Process
There are several important steps you should take to ensure a successful building and financing process.
One-Time Close Construction Loans
One-Time Close Construction Loan Program GMM’s One Time Close is available for New Construction and Renovation projects. This program offers you the benefit of …
What Is A Mortgage Recast?
You have probably heard of refinancing your mortgage as a way to potentially lower your monthly mortgage payments. There is also another possible option called …
How Do Down Payment & Closing Cost Assistance Programs Work?
Who Can Receive Down Payment Assistance? While many down payment assistance programs are often paired with loan options for first-time homebuyers, this is not always …
FHFA Announces Conforming Loan Limits for 2023
Baseline Conforming Limit Will Increase to $726,200 FHFA Announces Conforming Loan Limits for 2023 | Federal Housing Finance Agency Washington, D.C. – The Federal Housing Finance …
Home Inspections
Home inspections give you the opportunity to have the home thoroughly examined by a professional before you spend any money to purchase it. Paying for …
10 Homebuying Terms Everyone Should Know
Here is a list of frequently used homebuying terms and their definitions. What is an adjustable-rate mortgage (ARM)? An adjustable-rate mortgage is a type of …
What Is Commonly Negotiated When Buying A Home?
With homebuying, everything is negotiable, from repairs and closing costs to furniture and appliances. Offers and counteroffers can negotiate on a mix of these factors. …
7 Ways to Stand Out as a Potential Homebuyer
With rates near all-time lows, the housing market is buzzing with potential buyers! Low rates mean more affordable payments or more home for your money, …
Virginia Housing Update
Virginia Housing (formerly referred to as VHDA) offers affordable loan programs for Virginians. With the update of Income and Sales Prices in addition to an …
5 Tips for Making an Offer on a Home
1. Check your emotions Buying a home can be both exciting and stressful. And, after a long home search, it’s easy to overlook some red …
Get Your Cash Back
Paying cash for a home has benefits. Take advantage of being a cash buyer to give the seller confidence the transaction will close quickly and …
The Lowdown on Down Payments & Mortgage Insurance
Many first time home buyers believe they must put 20 percent down on a home. But that is far from the truth! In 2019, NAR …
9 Tips for Purchasing Your First Home
Beginning the home buying process can be a very exciting, yet nerve-wracking experience for anyone starting off. These tips will help answer some questions to …
Home Improvement Projects with the Best ROI
Whether you’ve purchased a fixer-upper or are thinking about selling your home in the near future, it’s important to determine which renovations or upgrades can add value to your property.
Homebuyer Options
Low Down Payment Programs & Grants George Mason Mortgage has the program options to fit your story and our experienced mortgage professionals will help find …
Moving Checklist
6-8 Weeks Before Moving Budget for moving expenses and obtain estimates from moving companies Call insurance companies to identify record changes Cancel or transfer gym, …
ICE Mortgage Technology Case Study
In an effort to improve the mortgage lending experience, Fannie Mae and Freddie Mae required significant changes to the Uniform Residential Loan Application (URLA) used …
Refinancing 101
Rates have hit an all-time low and have left homeowners scrambling to refinance their mortgages. You have most likely heard in casual conversations with friends …
Your Journey Home
Knowing the path will travel together helps the journey go more smoothly. We have outlined some important highlights so you know what to expect along …