The National Association of Realtors (NAR) recently reported that the top 10 dates Sellers listed their homes in 2016 were mostly all in April, May or June. If you are considering taking advantage of this “real estate season”, it is time to examine your best mortgage options.
If you should find yourself in a situation where you stumble on your dream home, but have not sold your present one, fear not, a Bridge Loan can rescue you (http://www.sunpacificmortgage.com/blogs/bridge-loan-beneficial/).
This loan option is often preferred over a contingency offer, especially in a hot real estate market. With a Bridge Loan the buyer can make a clean offer assuring the seller he has a firm commitment to the deal. Bridge Loans are short term loans usually of 12 months. This type of loan usually gets paid off with longer-term financing sometime in the near future, or from the sale of the prior property. As the name implies, it provides a “bridge” from one transaction to the next.
At Sun Pacific Mortgage and Real Estate we have executed many of these loans and funded many a transaction from the “dead deal” pile. Give us call at 707-523-2099 to explore the ways we may assist you with your next real estate deal.