Bridge Loans and Renovation Loans - Tools In the Toolbelt

10001 West Innovation Drive,Wauwatosa WI 53226

24 March, 2022

Description

Win more offers: How to use bridge loans to avoid homesale contingency and include appraisal gap; using renovation loans for purchase! We will be discussing Bridge loans and Renovation loans! Let's find solutions to make buyer's offers more competitive! Food and drink will be provided during and after - come with an open mind and an excitement to collaborate with other high producing agents in the market! Bridge Loans: Remove the need of a homesale contingencyPay off buyers' existing mortgage so they qualify for two housesPay off buyers' existing debt for debt consolidation and increased buying powerSupply extra cash for an appraisal gap guaranteeExample: We had a client making median income ($80,000) who only qualified to own one home at the same time. Using a bridge loan, we were able to help them qualify to close on the new purchase without having to sell their current home first. We used the loan to pay off their current mortgage, their credit cards, and an auto loan! Renovation loans for purchase: How a buyer can do a 3.5-5% down payment and have a renovation budget escrowed to update their new home, or make it their ownHow to help your buyer prepare for what to expectWays you can help explain a renovation loan to a buyer to make it more palatable!We can open up "new inventory" for buyers if we help open their minds to the possiblities! With the Ethan Brooks mortgage team you will experience a team of dedicated professionals with one unified goal - excellent service, rapid communication, and personalized care.  Ethan draws on years of customer service experience to provide personalized attention to every client. With every phone call, email, and interaction, Ethan and his team strive to "WOW" everyone they work with, be it a home buyer, realtor, or other professional.  Are you a first-time homebuyer? Make sure to ask Ethan about a personalized consultation that will walk you through the entire process: from start to finish. Have you purchased before? Ethan will meet you at your comfort level and make sure the process is seamless.