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Why Would I Need an Arizona Bridge Loan?
So, you’ve put your house up for sale and you’ve begun to look around for your new, upgraded home. In no time at all you have found your dream home but, there is one problem—you haven’t sold your house.
Most people can’t afford to pay two mortgages. This is where a Arizona bridge loan comes into play. When borrowers want to buy a new home before selling their initial investment a Arizona bridge loan can give you the money for a down payment on a new home before the sale of the old home is complete.
Unless, you have stashed away a big financial cushion chances are you don’t have the required down payment on your new home before you’ve received the funds from your old home’s sale. Sometimes, a seller will include a contingency in the home you are trying to buy. A contingency states that you won’t buy the new home until the sale of your old home. Unfortunately, in competitive real estate markets many sellers don’t want to deal with contingencies.
In a Arizona bridge loan your home is the security on the loan. A Arizona bridge loan is taken out from a hard money lender. Hard Money Loans in Arizona ... more

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