Bridge
Loans
Not Available at this Time
AAXA's investors are not offering bridge loan programs
due to the current state of the market. Bridge loans
are short term loans which allow consumers to purchase
new properties while their current primary residences
are on the market to be sold. These loans are secured
to the buyers' original homes. Many large wholesale
investors have terminated their bridge loan programs
because of the extended period of time that houses
remained for sale. Lenders and consumers both got
caught with hefty bills while properties remained
unsold in a slow market. Bridge loans may still exist
with some investors and your best bet may be to speak
with a local bank and/or credit union. You may also
want to see if you can use a home equity loan for
your downpayment. You may end up with a better deal.
