What is a Bridge Loan?
Bridge loans are the way to go when you need the equity in your current home as part of the down payment for your construction project or the purchase of an existing property.
Bridge loans help homebuyers secure their next home before their current home has sold. This is helpful when homeowners have existing equity in a home that they want to use in purchasing their next home. It’s also a benefit when the home market is low in supply, and you find the perfect home before selling your current home.
While bridge loans are not common, PWSB has experts to help with bridge loans. We can help you determine what makes the most sense and help you evaluate the benefits and drawbacks to a bridge loan based on the home type and timeframe. And as a leading lender in Southeast Wisconsin, we are always here to help.