Bridge Loan
Enjoy the advantage of an all-cash buyer when negotiating and purchasing real estate.
The Stonecrest Difference
Collateralize Multiple Properties
No Requirement to Pay Off Existing Mortgage(s)
No Minimum Income Requirements
Private Equity Bridge Loan Benefits
A bridge loan commonly serves as a vehicle for smoothing the financial transition from selling one property to purchasing another. If you need cash in hand before you sell your existing property, let us know.
Borrow up to 100% of the purchase price.
Home shopping? If you have enough equity in your current/departing residence, you may be able to borrow up to the entire amount you need to purchase a new home.
No Requirement to Pay Off Existing Loans
You can qualify for a Stonecrest Bridge Loan on the basis of your current equity, regardless of any current mortgage you have. So you won’t need to retire your current mortgage(s) to receive a Bridge Loan.
Collateralize Multiple Properties
If you have multiple properties, you can cross-collateralize them to qualify for the funds you need to purchase a new property.
No Minimum Income Requirements
If you need a bridge loan to buy a new home, you won’t need to meet a minimum income requirement as long as there is a clear path to paying off the loan.*
Make All-Cash Offers
Shop and bid for homes like an all-cash buyer. This means you can move fast when you need to, and inspire confidence in sellers that your financing is solid.
*These products may have a higher interest rate, more points or more fees than other products requiring documentation.
Terms
Loan Amount:
250,000
to
5 million
Loan Term:
6 months,
11 months
Bridge Loan Success Stories
A bridge loan is a flexible and dynamic tool that allows our borrowers to compete as all-cash buyers in a unpredictable, fast-changing marketplace.
Competing with 26 Offers
The Goal: Our borrower, Jim was searching for a house at the height of a seller’s market. He found a home and fell in love with it.
The Challenge: Jim was still living in his home, and so he could only make offers contingent on the sale of that house. And the home he liked? He was competing with 26 offers! Jim was fortunate to have a savvy real estate agent who understood the market, and was familiar with Stonecrest’s products as well as processes.
The Solution: Stonecrest partnered with the agent to set up a Bridge Loan for Jim, which Stonecrest approved and funded in one day. So the agent was able to quickly make an all-cash offer at a very competitive price. Jim’s offer immediately moved to the head of the list and he was able to purchase his dream home.
Dream Home
The Goal: Our borrowers, Maurice and his wife, had been trying to buy their dream home for almost a year.
The Challenge: The couple worked hard, did their research, and had made several offers. But they kept getting beaten out by cash or non contingent offers. They just couldn’t move fast enough with traditional financing.
The Solution: Their real estate suggested they look into a Stonecrest bridge loan. Agents favor our bridge loan because we can usually fund the entire purchase price, and often within 17 days with no financing or sale contingencies. So Maurice and wife we able to move fast. And the dream home? It is now a reality.
Bridge to a Perfect Retirement
The Goal: Our borrowers were selling their home and buying a new home in an Oregon retirement community. They already had a cash offer on their existing home, and were looking forward to selling that home to complete their purchase, make the move, and start their new life.
The Challenge: The cash offer on the borrowers’ current home unexpectedly fell through when the buyer backed out. And though they had an additional offer, they were now very short on time, and were at risk of losing the opportunity to buy their new home.
The Solution: The borrowers came to Stonecrest for a Bridge Loan to complete their purchase. Stonecrest was able to process and fund the loan quickly enough so they could make their deadline on the new purchase. The purchase of the new home was completed, and their existing home was sold shortly thereafter.
