Bridge Loans

Borrower Profiles:

Upscalers: Homeowners who are ready to move up in home value.

Many individuals want to upgrade to a new, more expensive home. They need a way to unlock the equity in their current property in order to be able to purchase a new one. But, especially in competitive markets, home-sale contingencies place buyers at a disadvantage. The solution is a Stonecrest Bridge Loan, which allows homeowners to get access to their equity and avoid contingencies.

Downsizers: Homeowners who want a more modest home.

Some homeowners may want to downsize in order to eliminate their mortgage, or use equity for projects or ongoing living expenses. Perhaps they are retired, no longer have income, and don’t want to qualify for long-term financing. Stonecrest Bridge Loans enable homeowners to tap into their equity and go new-home shopping as if they were all-cash buyers.

Relocators: Homeowners looking to secure a new home before moving.

Some homeowners need to relocate for work purposes or to be close to family, and want to secure their next home before selling their current one. Making an offer with the contingency that their current home sells first places buyers at a disadvantage. Stonecrest can help by loaning them the money needed to secure their future home, while taking up to 11 months to sell their current residence or to find other financing.

Market Cycle Benefits:

Sellers’ Market : In a sellers’ market, buyers need to present a deal with as few contingencies as possible. Buyers backed by Stonecrest Bridge Loans are as strong as those with all-cash offers, which makes them more attractive in competitive markets.

Normal Market : Often, in normal markets, buyers want to purchase their new home – perhaps renovating it first – before selling their current one. However, they may not qualify to own two homes at once, or might lose opportunities because sellers don’t favor deals where multiple escrows are tied together. Stonecrest Bridge Loans simplify deals to make our buyers more attractive.

Buyers’ Market: When there is a surplus of homes for sale, buyers call the shots. With a Stonecrest Bridge Loan in their pockets, buyers may negotiate an even better purchase price because they don’t need to have the transaction contingent on the sale of their current home.