Just Announced: Compass Bridge Loans
Compass is now offering a host of programs, and Compass Bridge Loans is the most recent development in an effort to ensure we are doing everything we can on our end so our clients can purchase their dream home. Compass bridge loan services allow clients access to highly competitive rates and quality support from leading lenders. Additionally, if you choose to sell your home with a Compass Agent, you can get up to 6 months of your loan payment fronted. After months of detailed research, Compass has chosen lenders that are offering competitive rates. With that being said, our solution allows you to work with a lender that YOU love.
What is a bridge loan?
A bridge loan is a short term loan that allows you to use the equity from your current home to make an offer on the new one- with no rush to sell.
Does it Make Sense For You?
The beauty of a bridge loan is that it allows for much more flexibility when it comes to buying a selling a home. If you’re money is tied up in your current home, a bridge loan allows you to move into a new home before selling your current one. Once the current home sells, you then begin making the payments. On a time crunch? Whether you have secured a new job and need to relocate ASAP or need to move for other reasons, a bridge loan allows you to make that move on YOUR terms, without the stress of waiting for your current hoe to sell. Home renovations, done through Compass Concierge or by other means, are sometimes easier when you are out of the house. With a bridge loan, move out of your house and allow home improvements to happen faster and more efficiently!
The process is simple and goes something like this…
Sign an exclusive listing agreement with us. We will the work with you to help you find your dream home.
We will work alongside you to help you apply and get approved for a bridge loan with a vendor of your choice.
Ask us how you can get the first 6 months of your loan fronted.
After a tailored search experience we find the home you have looking for and you move in! While you move in, we will work tirelessly to sell your previous home for the best price possible. Need renovations? Utilize Compass Concierge to sell your home faster and for more money!
Once your prior home sells, use those proceeds to pay off your bridge loan and any fronted payments.
The result: we’ve helped you bridge the gap from the home you have and the home you want. Now thats something to smile about.
