To help get you the cash you need to purchase the home of your dreams!
Bridge loans act as short-term financing on homes listed for sale. This loan is a revolving line of credit intended for borrowers who would like to take out available equity on a current primary residence to put towards a down payment on a Lake Michigan Credit Union financed new home purchase transaction of a primary residence.
- Borrow up-to 80% of current home value
- Interest only payments
- Access to all or a portion of funds during the loan term
- 11 month draw period/12 month balloon
- $500 non-refundable processing fee
Popular Mortgage Calculators:
How much home can I afford?
Should I rent or buy a home?
Should I refinance my mortgage?
Should I pay discount points for a lower interest rate?