Sometimes life can throw you curveballs, and traditional lenders may not be able to help. Bridge financing is a short term loan designed to bridge the gap when traditional lending doesn’t work, perhaps in the event of unexpected debts, or down payments and equity for homes between sales.
Does the idea of house flipping interest you? Do you ever dream of knocking down walls or picking out fresh flooring? Maybe you’ve seen a house for sale or a foreclosure that seems to be calling your name, but you just don’t know where to start or if you can afford this next adventure?
Broker Scenario #1 Retirement Consolidation Problem: Clients looking to refinance home and consolidate some of their debts to get ready to downsize as they are retiring. They wanted to include partial payments as their income is changing and they plan on selling home in the next year. Graysbrook Capital Solution: We approved the deal, but…
Broker Scenario #1 Blanket Mortgage Construction Problem: Client is building home for his son and was 50% complete, but needed funds to complete the build. Client needed $125,000 on closing and an additional $30,000 to complete, without a traditional draw structure. The client was willing to put a blanket mortgage on three other pieces of land…