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Bridge Loan

A bridge loan takes some of the stress out of selling and buying a home. It is a temporary loan to access the equity in your existing home as a down payment towards the purchase of your new home. The term of the loan is 90 days, and there are no payments necessary during that time.

Features Benefits
Finance up to 80% based on current home valuationHigh loan to value financing
The term of the loan should not exceed 90 days. If the existing home is not sold within 90 days, the credit union may allow one extension. If you have used up your one extension, you will be required to refinance the bridge loan to a conventional mortgageNo payment during 90-day note
Access to account information in person, by mail, iTalk and Online BankingConvenient
Apply for bridge loans in person, by mail or onlineConvenient
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