DGC  Financial Services

Accountants and Financial Consultants

accountants

Home Payroll Book-Keeping Insurance Car Finance

Bridge loan

Do you want to know what Bridge loan means?

 

Bridge loan :
This type of mortgage loan is sometimes used when a buyer will be closing on a new house before the present home is sold. The buyer's present home is used as collateral for another mortgage loan, which is used to purchase the new home. Also known as a "swing loan."

 

Did you find our interpretation of the phrase Bridge loan handy? If so please use our glossary to look at more explanation of phrases like Bridge loan and many thanks for patronising our DGC Financial.

 

Perhaps you'd like to try Escrow payment if you've mastered Bridge loan

 

 


What Not to do when taking a mortgage or loan

Don’t fall for a loan from a door-to-door salesman or home improvement contractor who comes to your home. Don’t take out a loan on your property for anyone else unless you can afford to lose that money forever. Don’t decide whether you can afford a loan by the monthly payments alone. Don’t sign anything that has blank spaces. 

If you’re like most homeowners, your house is the most important and valuable thing you own. The money you’ve put into your home can enable you to borrow money with a home equity loan. Your home secures the loan—unfortunately, you can lose your home if you are unable to make the loan payments.

wii stock