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You might not have sufficient cash to make a competitive offer in case your cash is tied up in your present home. You may feel rushed to promote, which may lead you to take a decrease provide than you would otherwise. A bridge mortgage is a short-term loan offered by a financial institution to cowl your down cost, simply till your gross sales close. Make positive to speak to your banker about this option early within the course of, as a result of not all banks offer this product and it may be exhausting to qualify. A HELOC, or home equity line of credit, lets you borrow against the fairness in your current home.

The content on this web site isn’t supposed to offer legal, financial or real property advice. It is for data purposes solely, and any hyperlinks provided are for the person’s comfort. Please seek the companies of a legal, accounting or actual estate skilled prior to any actual estate transaction. It just isn’t Zillow’s intention to solicit or intervene with any established company relationship you could have with an … Read More