A Better Bridge Loan — One that Works for You, Not Against You
Traditional bridge loans can be great solutions for those who can afford multiple loan payments. But for most borrowers, that is not the case. In fact, a bridge loan can actually work against you.
Grove Bank has built a bridge loan program that actually helps people move up, or down, without having to sell first. We think it is a pretty great solution and are confident you will too. Call, text, or email us today, and we can schedule a consultation to see if this program is a fit for your goals.
The Grove Bank Difference
No monthly payment feature helps borrowers with cash flow constraints during a move, which is often a time filled with unexpected expenses. Note: No payment doesn’t mean free. The borrower is able to accrue interest for up to 6 months, while they are selling their departure home. Then, when it sells, they pay us back. It’s that simple.
The best feature is that we allow move up buyers and/or downsizers to tap into their home’s equity so that they can make a down payment on a new home. Additionally, we lend the borrower the money to complete the new home purchase in conjunction with the bridge loan so that they can make a competitive, non-contingent offer, which often yields the best terms, and we ensure a smooth transaction free of the stresses often associated with simultaneous closings.
How to Get Started
To apply for the Grove Bank NHL Bridge Program, simply call or complete our secure, online loan application:
Still have questions? Give us a call! One of our mortgage specialists would be happy to answer all your questions.