In this week’s episode of Mortgage Monday video show, Jim Cardinal and Alexis Meeks address the idea of using a home equity as a bridge loan. First let’s get a little better understanding of what a bridge loan is:
A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing. ~ wikipedia
The thought is a bridge loan can help a home buyer through the transition of buying a new home while their still in the process of selling their old home.
Watch this week’s video for the full story:
(if you can’t see the video click here)
Thankfully we have Jim Cardinal, Branch Manager for Syracuse Securities {visit his website to learn more} and Alexis Meeks of Karp, Ackerman, Skabowski & Hogan CPAs {Connect with Alexis on LinkedIn} to explain what is happening in the mortgage industry, how issues will impact the home buying process and what actions to take moving forward.
You can reach them by phone at:
- Jim Cardinal | (518) 281-0077
- Alexis Meeks | (518) 828-7618
We can help with homeowners insurance
If you are a first time home buyer or if you currently own a home we would love the opportunity to help you find the proper coverage at the most competitive rate for your home insurance or rental property insurance. We are dedicated to helping you make the best decisions regarding your insurance and providing our community are resources like Mortgage Mondays are part of that dedication.
If you would like to receive a quote give us a call at (518) 456-6688 or click here to begin the process by email.
Thank you,
Ryan Hanley, CIC
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