Are you selling your home? Is it a buyer’s market? Is your home going to sit on the market for weeks or months, making it impossible for you to access the equity? Then you need a bridge loan. What if you can’t verify enough income to qualify? Then you need a no doc bridge loan, which is now available from Amerifund Home Mortgage.
Not sure if you qualify? Call the bridge loan experts at Amerifund. You may be eligible for a bridge loan that will help you tap the equity in your home before selling.
That’s right — you may be able to take out a loan while your home is on the market. This way, you can get the cash you need to make a down payment on a new home.
What are the requirements? What if you’re between jobs or you don’t show enough income to qualify.
Here’s the best part — Amerifund’s Bridge Loan Program is a No Doc loan! You don’t need to show W2s or tax returns to qualify.
The Bridge Loan Program also allows financing for second homes and investment properties. 1-4 family homes, condos and coops are acceptable collateral.
How does it work? Let’s say you have listed your home for sale. Based on information from your real estate broker, you are asking $2,500,000 for it. You have a mortgage and you owe $800,000. You are bidding on a new home and you need to come up with the contract deposit of $150,000, but you don’t have that much in readily available liquid assets. You also just switched jobs and you don’t show enough income to qualify.
You need a no doc bridge loan! As long as you have good credit, Amerifund can give you a loan for $1,250,000. You can pay off your $800k loan and get $450,000 in cash. Now you have more than enough money to be able to sign a contract on a new home.
Call today and put your equity to work!