There are many reasons
why a homeowner might want to move before his house is sold, but it’s difficult
to do when the funds are tied up in a property. With help from hard money lenders, Texas homeowners
can receive what’s known as a “bridge loan,” so they can move when it’s best
For most people, their home is the single biggest investment
they will make in their lifetime. Although they may trade it out a few times
over the years, the majority of their income is poured into the property. That
money gets locked down tight, and banks aren’t keen on releasing any of it back
to the homeowner.
However, we also live in a world where moving for the sake
of employment is often necessary. There are a myriad of other issues that might come up, forcing a family to have to pick up stakes and move quickly and unexpectedly as well. Unfortunately, with the money tied up in a house,
homeowners are stuck.
Occasionally, a home equity line of credit can be issued.
This is where the bank will give you some of the money you’ve paid, so you can
use it on whatever you need to. However, this option is routinely stripped away
once the bank finds out that your house is on the market. Using hard money lenders, Texas homeowners can have access to the equity in their home, even if they plan to move right
Working with the Best Hard Money Lenders, Texas Bridge Loans Can Be Right
The concept is called a “bridge loan,” simply because it’s designed to be short-term, to help bridge the gap between your move to a new home, and the time your old home is sold. The short span isn’t generally a problem though, because most homeowners only need a couple of months to get their old home sold. With help from hard money lenders, Texas
homeowners can obtain a bridge loan, and use it to cover the down payment on their new home. The loan is generally based on the equity you have in your existing home, so even people with poor credit or other issues can qualify for this valuable service. So, not only are they easy to
obtain, but they’re perfectly designed to fill the gap and make your housing
transition incredibly simple.
When working with hard money lenders, Texas borrowers have access to expert
Traditional wisdom says that you should always sell your
home before you purchase a new one, but in the real world, that isn’t always possible or practical. Using bridge loans from hard money lenders, Texas homeowners have another tool in their arsenal when trying to navigate the changes of life. Additionally, the people who provide them are experts in the industry, and are familiar with numerous types of financing options, so you can get all the information you need to be
sure that you’re choosing the best option for you.
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.