Don’t get stuck.
Take advantage of the Windermere Bridge Loan – Buy a Home Without Selling Your Current Home
𝑇ℎ𝑒 𝑊𝑖𝑛𝑑𝑒𝑟𝑚𝑒𝑟𝑒 𝐵𝑟𝑖𝑑𝑔𝑒 𝐿𝑜𝑎𝑛, allows you to make a non-contingent offer. You will not risk losing your new home while waiting for your own property to sell. The benefits include:
✔️Sᴛʀᴏɴɢᴇʀ Nᴇɢᴏᴛɪᴀᴛɪᴏɴ Pᴏsɪᴛɪᴏɴ
✔️Sɪᴍᴘʟᴇ Aᴘᴘʟɪᴄᴀᴛɪᴏɴ Pʀᴏᴄᴇss
✔️Nᴏ Pᴀʏᴍᴇɴᴛs Dᴜᴇ Bᴇꜰᴏʀᴇ Cʟᴏsɪɴɢ
✔️Iɴɴᴏᴠᴀᴛɪᴠᴇ Pʀᴏɢʀᴀᴍ ᴡɪᴛʜ Cᴏᴍᴘᴇᴛɪᴛɪᴠᴇ Fᴇᴇs ᴀɴᴅ Iɴᴛᴇʀᴇsᴛ Rᴀᴛᴇs
The first step in the process is to 𝐟𝐢𝐧𝐝 𝐨𝐮𝐭 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮𝐫 𝐡𝐨𝐦𝐞 𝐢𝐬 𝐰𝐨𝐫𝐭𝐡. Click here to get your home value and begin the next step toward 𝕞𝕠𝕧𝕚𝕟𝕘 𝕠𝕟.
Think the only way to buy your next home is by selling your current home first? We get it. It feels impossible because you are paying a mortgage and you don’t have extra money just lying around.
You may not know it, but there are programs out there for your exact situation. The good news, our Windermere Bridge Loan program makes it easier than ever before. We specialize in helping baby boomers and above downside out of their current home and right size into their new home. A lot of older sellers in Seattle have most of their money tied up in their current home. They typically either have a very small mortgage or no mortgage at all. If they are looking to buy another home, a lot of times their biggest concern is how to financially manage that transition from their current home to the next. One way to transition would be just the traditional route of getting a mortgage for the new home. However, if you’re retired and on a fixed income you may not have that down payment in readily available cash or enough monthly income to qualify.
So, the great option for sellers with a lot of equity in their current home would be to use the Windermere Bridge Loan program. We’ve always felt that this loan was perfect for senior sellers. There is very little upfront cost for the loan, but the big advantage is that no payments are due for six months. With the bridge loan you can access up to 75% of your home’s equity. So, let’s say your home is now worth $800,000 and you have a small mortgage of $65,000. We would take $800,000 times 75%, which would be $600,000. Now minus your mortgage balance of $65,000. That leaves you with a maximum bridge loan amount of $535,000. You can now take those funds and purchase a new home or condo without having to sell your current home first.
Overall, it’s a pretty easy peasy process from start to finish. It’s not like a typical mortgage application. The lender doesn’t care about your credit score, your income, or your ability to pay. The loan is based on the equity in your home. No appraisal is needed. The first step is to have a Windermere broker, like Steve and I, conduct a walkthrough of your home and put together a home evaluation report. This is all at no cost to you. The lender uses this report to get your home loan started.
We work directly with Adam Boss of Penrith Home Loans. He and his team are very knowledgeable and reliable. We trust them to guide you through this very important next step in your life. So, have us over for a walkthrough and stop feeling stuck.
Please think of us as resource for all things downsizing and real estate related.
We are Steve and Sandra. Elevated Service. Elevated Results.
You can learn more about & contact 𝐴𝑑𝑎𝑚 𝐵𝑜𝑠𝑠 𝑜𝑓 𝑃𝑒𝑛𝑟𝑖𝑡ℎ 𝐻𝑜𝑚𝑒 𝐿𝑜𝑎𝑛𝑠 at www.penrithloans.com/consultants/adam-boss/
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑎𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝘰𝘳 𝘥𝘰𝘸𝘯𝘴𝘪𝘻𝘪𝘯𝘨 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
📲𝑪𝒂𝒍𝒍 𝒐𝒓 𝒕𝒆𝒙𝒕 𝒂𝒏𝒚 𝒕𝒊𝒎𝒆