A bridge loan is usually for people who own their current home and are free of any mortgage payments. Generally, they want to use their home’s equity to make home improvements on a current home and/or a new home they’re purchasing, before they sell their current home. Or, they want to use their home’s equity to make a down payment on a new home before they sell their current one.
At TFCU, bridge loans:
Allow you to cash out up to 80% of your home’s equity.
Are good for 12 months.
Talk to a TFCU home loans expert to see if a bridge loan may be right for you.
"A bridge loan is the 'bridge' to help you cover closing costs and down payment from selling a home to buying a home."
– Mary Bailey, TFCU Mortgage Originator
Step by Step
You can count on TFCU’s mortgage team to help throughout the lending process. To speed things up with your online application, you might gather these items in advance.