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Bridge / Interim Loan

Bridge Loan

So you sold your home and purchased a new one. Congrats! But there’s just the little, minor detail of the sale date being AFTER your purchase date. Don’t worry, all you need to do is apply for a bridge loan – a loan that “bridges” the financing between the sale and purchase of two properties. We will provide you with the temporary funds you require to close and purchase the new property. Simply bring us your signed, unconditional offer for the sale AND the new purchase. We can help make the process easier and less stressful for you.

 

Interim Financing

You’ve had your house on the market for a few months and you’re just not getting what you’re asking for it. However you want to purchase a bungalow in a great neighbourhood just twenty minutes from work. PARAMA can arrange interim financing using the current equity in your home (providing there is enough), which is then paid off with the eventual sale. We would need a copy of your Purchase Agreement and all documentation needed for a typical mortgage application.

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