Bridge Loans - What Are They?
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- Опубліковано 14 жов 2024
- Hey everyone! Today, we're diving into the world of bridge loans - a short-term financing option often overlooked! A bridge loan is aptly named, as it serves as a "bridge" between two financial points. Often utilized by homebuyers, it allows them to purchase a new property before their current home is sold, ensuring a smooth transition. But that's not all! Businesses also use bridge loans during periods of short-term liquidity shortages. This quick, flexible financial solution comes with its advantages and risks. If you're considering a bridge loan, or simply curious about what it is, this video is for you! Don't forget to like, share, and subscribe for more financial insights. Leave your questions below, and we'll get right back to you! 🚀 #BridgeLoans #financeexplained
If there ever was a Bridge Loan expert here on UA-cam, it's gotta be me! Lol! How can I help you?
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Understanding Bridge Loans in 2 Minutes! 🌉💰
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thanks for the informative video. I have a question. Say i buy my new home using a bridge loan and close escrow in 3 weeks and move in on the 4th week. Then I list my departing home, get an offer and accept it after one week and then close escrow in 4 weeks. Total length of time from start to finish is 8 weeks. Would I be able to pay off the bridge loan on the 8th week when i have the funds from the house or would I need to wait until the 6-12 months to pay it off?
Great question! Yes you can pay it off when you have the funds.
What's the most you can take out as a heloc loan on an multifamily?
Thanks for the heart but can you kindly answer my question?
@@DebraWarner-v7l I don't know the answer.
@@DebraWarner-v7l how many units? I've not done a heloc on multi-family before.