The mortgage bridge is therefore to a mortgage granted as temporary financing and the guarantee of a future income of the borrower or deudor.Este type of financial product is intended for people who need to acquire a new property and do not have the time to sell your current home in top condition. In this case, mortgage owned the house, avoiding a personal loan, and waiting a year by the financial institution for the customer to sell your home and restructure the situation with the mortgage loan you need finally. What this does is undermine the current floor to avoid a personal loan and to afford the new housing construction. This appropriation will be canceled after getting the final mortgage, as new housing to receive the customer sign a traditional mortgage for a higher amount.
financial institutions rarely offer the product as such so we must ask and ask and that although the risk is high for the bank, the guarantee against insolvency also twice because the payment is supported by the two properties customer.
The bridge loan is a product but not typically offered, financial institutions if they grant it to some customers. The profile of the applicant for a mortgage bridge suele coincidir con personas que apalabran la adquisición de una vivienda asegurándose que va a ser suya frente a posibles subidas de precio o cambios en las condiciones del mercado.
Así prolongan el plazo de la firma de escrituras lo máximo posible para poder vender su vivienda actual de la mejor forma posible. Además gracias al crédito puente el solicitante puede extender el plazo de tiempo establecido para garantizarse una buena venta sin prisas.
Tras la recibir la vivienda nueva, el cliente accede a una hipoteca tradicional, por un montante superior. Con estos fondos se cancela el préstamo puente y se paga el precio de la compra del inmueble.
Requisitos para obtener una hipoteca puente
If the client wishes to purchase a new home plan and owns another, there are two situations. In the event that your current home is not mortgaged, the bank or a mortgage bridge manages and provides a gap limit for one or two years, during the completion of the leftovers and get sold. If circumstances are favorable, cancel the mortgage bridge with the amount acquired in the sale and manages a traditional mortgage with the amount required to meet the new purchase
Where to get a mortgage bridge mortgage
The bridge can be obtained through of most financial institutions. However, not everyone specializes residential bridge loans commercial bridge loan. Since each bridge loan is different, research the various requirements, fees, and fees of lending institutions in your area before you make a choice. If you are really unsure of where to start, a loan officer is a great place to start.
Length of mortgage bridge mortgage
The bridge are considered to be an option for short-term financing to buy new properties. They are quick to obtain, and short term. While permanent financing can vary from fifteen years to forty-five, and are usually obtained for thirty years, Bridge loans are usually two weeks to maybe about three years.
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