Zimmer|Glime Real Estate “Home Tip of the Week ~ Bridge Loans”

In this week’s Zimmer|Glime “Home Tip of the Week”, Associate Broker Amy Zimmer discusses bridge loans. Buying a new home before you sell your current one can be difficult. Sellers who are juggling many offers for their home may be more likely to bypass offers that are contingent on the sale of a current house. But, many homeowners who are moving rely on money they’ll get from the sale of their current home to fund the purchase of a new one. If you have equity in the home you’re selling, a bridge loan may be a way to help fund your next home before completing the sale of your current home. Essentially, the bridge loan is a way to take out a loan against the current home to make a down payment on a new home. This temporary loan is helping some buyers to be able to waive a contingency for the sale of a home in a bidding war for a home and help their offer stand out more to the seller. Check out this video to learn more… @zimmerglimerealestate #homes #househunters #homebuying #homebuyers #hometip #offers #bridgeloans #talktoyourlocallender #mortgage #zimmerglimerealestate #hallandhunter #christiesinternationalrealestate #leadingrelocal #realestate #useaRealtor #christieshomes #yourrealtorsintheknow #luxurytoleases