Loan Program

Simple Bridge Loans

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Is a bridge loan right for you?

Bridge loans let homebuyers take out a loan against their current home in order to make the down payment on their new home. A bridge loan may be a good option for you if you want to purchase a new home before your current home has sold.

Benefits of a bridge loan

  • 6-month balloon term with interest only monthly payments
  • Option to renew for an additional 6 months for a $2,000 fee
  • $250,000 maximum loan amount
  • 90% maximum combined loan-to-value (CLTV) ratio
  • Interest Rate of 4.50% if < 80% CLTV
  • Interest Rate of 5.50% if > 80% CLTV
  • Borrower is responsible for all associated loan fees and closing costs
  • $500 origination fee

Bridge loan terms and eligibility requirements

  • Borrower must be working through the Colorado Lending Team to obtain a primary residence purchase loan
  • Collateral must be borrower’s current primary residence
  • Transunion credit score of 680 or above
  • Debt-to-income (DTI) ratio of 50% or less

No matter what your situation is, there is a home financing solution for you. We are ready to guide you through your options and get you the best rate possible!

Conventional

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FHA

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VA

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Jumbo

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Renovation

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USDA

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Home Ready

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Home Possible

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All In One

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Bridge Loan

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