BRIDGE LOAN SERVICES

A simple solution to bridge the gap between the home you have and the home you want


Compass Bridge Loan

When you’re in the market to buy a home, it’s an exciting time in your life; It truly is like starting a new chapter in your book of life, but most people in the market to buy face the dilemma of figuring out what they should do first.


Should I sell my home first or should I buy first and then sell?


This is the question that baffles many homeowners looking to sell their homes. There’s a lot that goes into this decision. Your personal finances, how soon you need to move, and the state of the market are all determining factors in whether buying or selling first will benefit you most.


To simply put it:


Selling first is going to benefit homeowners looking to sell in a buyers’ market, whereas buying first is going to benefit homeowners looking to sell in a sellers’ market.


In a perfect world, people would be able to buy and sell at the same time, but that’s practically impossible because the odds of a home selling at the same time as the purchase of a new home are pretty slim… right?


Not at all.


Buying and selling a home at the same time is very possible. How? With a Compass Bridge Loan. Bridge loans ease the transition from one home to another by using the equity from your current home to help finance your new home until your old home is sold. Once your old home sells, you can then use that money to repay the bridge loan… Bridge loans allow you to buy first, stress-free.


When you’re in the market to buy a home, it’s an exciting time in your life; It truly is like starting a new chapter in your book of life, but most people in the market to buy face the dilemma of figuring out what they should do first.


Should I sell my home first or should I buy first and then sell?


This is the question that baffles many homeowners looking to sell their homes. There’s a lot that goes into this decision. Your personal finances, how soon you need to move, and the state of the market are all determining factors in whether buying or selling first will benefit you most.


To simply put it:


Selling first is going to benefit homeowners looking to sell in a buyers’ market, whereas buying first is going to benefit homeowners looking to sell in a sellers’ market.


In a perfect world, people would be able to buy and sell at the same time, but that’s practically impossible because the odds of a home selling at the same time as the purchase of a new home are pretty slim… right?


Not at all.


Buying and selling a home at the same time is very possible. How? With a Compass bridge loan. Bridge loans ease the transition from one home to another by using the equity from your current home to help finance your new home until your old home is sold. Once your old home sells, you can then use that money to repay the bridge loan… Bridge loans allow you to buy first, stress-free.


Selling First is Practical But It’s Not Your Only Solution

For most people, selling your home first is the most practical solution in transitioning from one home to another, and understandably so, but it’s not always the most convenient solution. Oftentimes, selling first means you’ll be inconvenienced by having to find somewhere else to live until you find the home you want. You’ll also have to find somewhere to live temporarily if you need major renovations done on your home and your safety is at risk living there while the work is being done.


Selling first is most beneficial to those selling in a buyer’s market. This is also typically the result of knowing your home will take longer to sell and you can’t afford to take on two mortgages until your old home sells. That’s perfectly understandable but lots of people fail to realize that selling your home first isn’t your only option.


A bridge loan will afford you the luxury to make an offer on the home of your dreams without rushing to sell your old home or risk potentially losing the new home from waiting on your old home to sell. At Edwards Estates Group, we’ve teamed up with Compass Concierge to help bridge the gap between your old home and your dream home.


How a Bridge Loan From Compass Can Help You

Transitioning from one home to another can be brought on for a number of reasons. For some people, they need more space for their growing family. For others, it’s because of a job transfer, but regardless of your reasons, the actual process of getting out of one house and into another can be one of the most stressful times in your life. A bridge loan can ease that stress and make your transition very smooth and stress-free without waiting on your old home to sell.


As a Compass client, you’ll be able to purchase the home of your dreams while a Compass agent works diligently to sell your old home. This allows you to get the new chapter of your life started. Here are some of the added benefits of how a bridge loan can assist you in buying before selling:


  • You have complete control over your moving time frame: In buying and selling at the same time, there’s added pressure to rush and pack so that you can get out of the house before the new owners move in. A bridge loan removes the “rush” to move out and instead allows you to properly organize and pack your things.
  • There’s no rushed home purchase: Your home isn’t on the market yet so you can take your time looking for the home of your dreams. Once you find that home, you can feel confident in knowing you’re also not rushed to sell your old home for money to buy your new one… A bridge loan alleviates that stress.
  • You’ll be able to secure the home you love: Selling your home can be time-consuming depending on the market, but what if you find the home of your dreams while waiting on your old home to sell? There’s the potential to lose that home because you don’t have enough upfront funds for a sizable downpayment. Bridge loans provide you with the upfront funds to secure your dream home even if you haven’t moved out of your old home.
  • Avoid the inconvenience of keeping a “show-ready” home: One of the biggest inconveniences of selling a home is making sure your home is “show-ready,” all while living in it. And it must be “show-ready” at the drop of a hat when someone wants a tour! A bridge loan will allow you to hire a company to stage and decorate your home to get it ready for tours while you’re already living in your new home.


Let Compass Bridge the Gap Between Your Old Home and Your New One

With a Compass bridge loan, your old home won’t interfere with the purchase of your new home. A dedicated Edwards Estates Group agent will work with you to help you buy the home of your dreams, and once your old home sells, you can then repay the loan with the earnings from the sale of your old home.


So don’t let your old home delay your transition to a new chapter in your life. Talk to a Edwards Estates Group | Compass agent today to get your home buying and selling process started.

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Vance Edwards


FREEDOM MORTGAGE


When looking for a mortgage, it’s important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home-buying or refinancing needs, regardless of how unique your circumstances may be. That’s the Freedom Mortgage difference.


855-915-8500

[email protected]

Available to serve customers in all states.


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844-875-1234

[email protected]

Available to serve clients in all states except MA, VA, VT, NH, HI, MN and NV.

More states coming soon.


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Contact Vance to learn more about Bridge Loan Services.


Vance Edwards

DRE# 01893825

[email protected]

M: 310.871.9096