Where to Inquire and Get Florida Bridge Loans and The Challenges That Comes With It
A bridge loan is a type of loan that helps people buy a new home before they have sold their old one. It gives them money to buy a new home, and then they pay it back when their old house sells. Bridge loans have higher interest rates than traditional mortgages and are usually used as a short-term solution. Because bridge loans require the borrower to have equity in their old home, they are best suited for people who are upgrading from one house to another within the same market. Florida Bridge Loans come with some risks, such as the possibility that your old home may not sell as quickly as expected, leaving you with two mortgages. Additionally, bridge loans are generally more expensive than traditional mortgages because the lender is taking on a higher risk by lending money withou...
