How can you get a bridge loan to buy a house?
If you are looking to buy a new house or purchase some real estate, a bridge loan comes in handy. It gives borrowers the flexibility to borrow funds for up to a year. The application and underwriting process for bridge loans is faster than for conventional loans.
However, the interest rates of Bridging loans are more expensive than traditional loans. At Mortgage Loan Ontario, we have a wealth of experience in providing bridge loans in Ontario and across the country for new residential or commercial properties.
To qualify for a bridge loan, you will need to provide the lender with a copy of the original purchase agreement and a copy of the sale agreement of your current property. If the closing date is not finalized, you will need to turn to a private lender, and that is something we can help with as well.
For bridge loans in Canada, Mortgage Loan Ontario is the name you can place your trust at. To schedule an appointment or for more details, get in touch.
