Bridge Loan

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.


Features

  • Borrow up-to 70% of current home value
  • Interest only payments
  • Access to all or a portion of funds during the loan term

Requirements


Great low mortgage rates

Compared to traditional banks, you’ll pay less on your loan rate, less on your closing costs, and less in expenses over the life of the loan.

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Rates based on credit score. 11-month draw period.

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