{"id":18683,"date":"2021-04-01T11:35:09","date_gmt":"2021-04-01T11:35:09","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18683"},"modified":"2021-04-01T11:35:09","modified_gmt":"2021-04-01T11:35:09","slug":"bridge-loans-may-help-with-intense-bidding-wars","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/bridge-loans-may-help-with-intense-bidding-wars\/","title":{"rendered":"Bridge Loans May Help With Intense Bidding Wars"},"content":{"rendered":"

Bridge Loans May Help With Intense Bidding Wars<\/h1>\n

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A bridge loan may help your buyer fund their next home before completing the sale of their current home. Essentially, it\u2019s a way to take out a loan against their current home to make a down payment on a new home. This temporary loan is helping some buyers be able to waive a contingency for the sale of a home in a bidding war for a home and help their offer stand out more to the seller.<\/p>\n

After all, some sellers who are juggling many offers for their home may be more likely to bypass offers that are contingent on the sale of a current house.<\/p>\n

Bridge loans can differ in structure among lenders. Usually, a homeowner can use a portion of their bridge loan to pay off their current mortgage while using the rest as a down payment on a new home. Homeowners also may be able to use a bridge loan as a second mortgage to cover the down payment for their new house. The underwriting on bridge loans tends to be faster than traditional loans, financial experts note.<\/p>\n

While bridge loans offer buyers a chance to make a contingency-free offer on a new home without selling their existing home, there are some caveats to consider. A bridge loan tends to have higher interest rates (HousingWire reports between 8.5% to 10.5%) and these loans only last between six months to a year. Also, the borrower will have to pay back the loan even if the home doesn\u2019t sell during that time.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cWhat Is a Bridge Loan?<\/a>\u201d HousingWire (March 25, 2021) and \u201cIs a Bridge Loan Right For You?<\/a>\u201d Forbes.com (Aug. 12, 2020)\u00a0 \u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bridge Loans May Help With Intense Bidding Wars   A bridge loan may help your buyer fund their next home before completing the sale of their current home. Essentially, it\u2019s a way to take out a loan against their current home to make a down payment on a new home. This temporary loan is helping … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18683","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBridge Loans May Help With Intense Bidding Wars - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/bridge-loans-may-help-with-intense-bidding-wars\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/bridge-loans-may-help-with-intense-bidding-wars\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/bridge-loans-may-help-with-intense-bidding-wars\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Bridge Loans May Help With Intense Bidding Wars\",\"datePublished\":\"2021-04-01T11:35:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/bridge-loans-may-help-with-intense-bidding-wars\\\/\"},\"wordCount\":296,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/bridge-loans-may-help-with-intense-bidding-wars\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/bridge-loans-may-help-with-intense-bidding-wars\\\/\",\"name\":\"Bridge Loans May Help With Intense Bidding Wars - 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