New Bridge Loan Product
St. Louis, Missouri – October 1st, 2021 – Gershman Mortgage, a leader in the mortgage industry, has recently announced a new Bridge Loan program for borrowers. The Bridge Loan program is designed to help borrowers get their offer accepted in a seller’s market by offering a clean offer, or an offer with few contingencies.
Many borrowers who want to buy a new home assume they need to sell their current home to buy a new home — something that has countless complications and requires lots of coordination. The Bridge Loan program allows the borrower to use the equity in their current home to use towards buying a new home without having to sell their current home first. This helps homeowners avoid the potential delay of selling before buying!
The Bridge Loan program gives access to competitive rates and dedicated support from Gershman Mortgage, a well-established industry leader, with the exclusive option to get up to eleven months fixed-rate financing with monthly interest-only and balloon payment to cover the down payment on a new home at the time of sale.
Bridge Loan Parameters:
- Fixed at Prime +2%
- No minimum Loan Amount – Maximum up to $500,000
Bridge Loan Benefits:
- Use the equity in your current home to purchase your new home
- Provides flexibility when shopping for real estate
- Give you more time to move from one house to another
- No prepayment penalties. You may pay off the loan at any time
Do you think the Bridge Loan program is a good fit for you? Contact a Gershman Mortgage Loan Officer today!
This is for informational purposes only and not an offer to lend or extend credit. Subject to credit and income approval. Terms and conditions are subject to prior notice.
About Gershman: Communities, families, and homes are at the heart of what we do at Gershman Mortgage. Our founding principles are based on the core values of honesty, integrity, the entrepreneurial spirit, and putting our customers first. We are passionate and committed to customer service and strive to ensure that we exceed the expectations of our customers. We are a customer-centric company devoted to creating and maintaining long-lasting relationships.
NMLS #138063 16253 Swingley Ridge Road Suite 400 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender.