If you’ve been lamenting how tough it is to get your offer to buy a home accepted these days, think about how much more difficult it is for those who must buy a new home BEFORE selling their existing one. After all, it’s practically impossible to make a contingent offer — defined as one that would allow you to sell your existing home first.
It’s usually in this stressful environment that someone well-meaning; a friend, a co-worker, even a Realtor, will swoop in and advise our buyer to “Just get a bridge loan!,” as if there is a simple, ready-made solution for our otherwise complex problem.
So, let’s go under the bridge and learn about the waters that run the “buy before sell” dilemma. Let’s figure out if a bridge loan is the right fit for you, or if perhaps a HELOC, a cash-out refinance or some other mortgage product can help you reach the higher ground.
If you don’t ever wanna feel like you do right now, and you want to buy that great new place before you sell your current property, give me a like or subscribe on YouTube!
Give it away, give it away, give it away now,
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343
Cell/Text: 415-367-5959
rob.spinosa@rate.com
Marin Office: 324 Sir Francis Drake Blvd., San Anselmo, CA 94960
Berkeley Office: 1400 Shattuck Ave., Suite 1, Berkeley, CA 94709
*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate. In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate’s Human Resources Department.
