Community Mortgage Groups’
Instant Equity Loan Program
Bridge the gap between the home you have and the home you want!
- Equity funds can be used to purchase a new primary residence
- Makes your offer to purchase a home stronger
- Removes home sale contingency
- 1-4 unit homes, PUD, and some manufactured homes and condo units
- Provides instant access to equity
- Provides an alternative to HELOC
- Max Loan Amount $200,000
- Min Loan Amount $10,000
- Max LTV 85%
Our custom bridge loan program can make your offer more competitive
Community Mortgage Group’s Instant Equity Program will make your offer more competitive by removing the home sale contingency. In a competitive housing market, homebuyers need to have a strategy that works. We allow you to access your equity fast for a down payment on your new home. No new qualification is required and funds are sent directly to the closing.
CMG’s Instant Equity Program is a bridge loan that allows you to borrow money for a new property while waiting to sell the old one, using your current home as collateral. It is a type of short-term financing that helps you “bridge” the financial gap between the time it takes to sell your present home and buy a new one.
How does CMG’s bridge loan work?
CMG’s Instant Equity Loan uses your current home as collateral for a type of “second mortgage” for the down payment and closing costs on a new home. A borrower will often pay the loan off quickly once their home sells with no prepayment penalties.
Working with Community Mortgage Group for a bridge loan is easy because our local underwriting team approves all these loans in-house. Remember that not all lenders offer an Instant Equity/Bridge Loan program. A bridge loan is a value-added service for CMG borrowers to help them purchase a new home in a super-competitive market.
Taking advantage of our Instant Equity Loan Program may be the best strategy when you have to sell your current home. Get Started today to find out if a bridge loan is right for you.