Bridge Loans

When homeowners sell their current home and purchase a new one, they often use proceeds from the sale of the old home as a down payment on the second home. In certain circumstances, the homeowner may need to close on the new home before they have sold their first home. Southern Trust Mortgage's Bridge Loan offers preapproved homebuyers the opportunity to borrow money secured against the current equity in the home they are selling until their old home sells (maximum term 6 months) and the Bridge Loan is paid in full.