{"id":3483,"date":"2021-02-16T22:49:07","date_gmt":"2021-02-16T22:49:07","guid":{"rendered":"https:\/\/www.fmloans.com?p=3483"},"modified":"2023-09-15T13:58:57","modified_gmt":"2023-09-15T13:58:57","slug":"bridge-loans","status":"publish","type":"post","link":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/","title":{"rendered":"Bridge Loans"},"content":{"rendered":"\n<p><span style=\"color: #333333;\">Are you a current homeowner looking to purchase a new home quickly? Many homebuyers plan on using the funds from the sale of their current home to purchase their new property, however sometimes the closing and sale dates don\u2019t always coincide, and can cause financial stress. In cases like these, a bridge loan can provide financing for the new home if you are unable to access the money you were anticipating on your other home sale. If you are interested in learning more about bridge loans in the areas of Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, Foundation Mortgage can help. <\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #333333;\"><span style=\"font-size: large;\">What Are Bridge Loans?<\/span><\/span><\/h2>\n\n\n\n<p><span style=\"color: #333333;\"><a href=\"https:\/\/www.fmloans.com\/loan-options\/\">Bridge loans,<\/a> also sometimes referred to as interim financing or swing loans, are short term loans typically used in a real estate deal when the buyer does not have sufficient funds to finance the purchase of a new home because they have not yet sold their initial property. A bridge loan offers a way to immediately buy a new home and bridge finance the gap before selling your current home. Usually, the amount you can borrow with this type of loan is 80% of the total combined value of both your current home and the home that you intend to buy.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #333333;\"><span style=\"font-size: large;\">How Do Bridge Loans Work?<\/span><\/span><\/h2>\n\n\n\n<p><span style=\"color: #333333;\">A bridge loan essentially assists buyers with purchasing a new home while they are waiting to sell their old home. Borrowers can use the equity in their current home to afford expenses for the new home, such as closing costs or a 20% down payment, (which allows the buyer to avoid paying private mortgage insurance). Bridge loans can also help you have an advantage over other buyers because they offer the appropriate amount of funds quickly to allow for an expedited sale. It is important to note that bridge loans usually have higher interest rates than other loan types, and homeowners who haven\u2019t paid off their original mortgage sometimes end up having to make two payments until the first home is sold, (for both the original mortgage and the bridge loan).<\/span><\/p>\n\n\n\n<p><span style=\"color: #333333;\">Bridge loans usually must be paid off in a year, and most borrowers use the money from the sale of the previous home to pay off the bridge loan. Bridge loans offer several benefits, including rapid financing, flexibility to purchase the home you want before selling your old home, sellers may be more favorable to offers that aren\u2019t contingent on the sale of another home, and convenience if you need to move quickly. To qualify for a bridge loan, lenders usually require a good credit score and a low debt-to-income ratio, (DTI).<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #333333;\"><span style=\"font-size: large;\">Assistance Applying For a Bridge Loan<\/span><\/span><\/h2>\n\n\n\n<p><span style=\"color: #333333;\">If you are looking for a way to fund the purchase of your second home, and want to know more about bridge loans in the areas of Knoxville, Maryville, Lenoir City, Oak Ridge, of Gatlinburg, Tennessee, contact Foundation Mortgage today. Our <a href=\"https:\/\/www.fmloans.com\/meet-the-team\/\">loan specialists<\/a> can work closely with you to purchase your next ideal home.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you a current homeowner looking to purchase a new home quickly? Many homebuyers plan on using the funds from the sale of their current home to purchase their new property, however sometimes the closing and sale dates don\u2019t always coincide, and can cause financial stress. In cases like these, a bridge loan can provide [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3147,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-3483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bridge Loans - Foundation Mortgage l Knoxville TN Home Loans<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridge Loans - Foundation Mortgage l Knoxville TN Home Loans\" \/>\n<meta property=\"og:description\" content=\"Are you a current homeowner looking to purchase a new home quickly? Many homebuyers plan on using the funds from the sale of their current home to purchase their new property, however sometimes the closing and sale dates don\u2019t always coincide, and can cause financial stress. In cases like these, a bridge loan can provide [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/\" \/>\n<meta property=\"og:site_name\" content=\"Foundation Mortgage l Knoxville TN Home Loans\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-16T22:49:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-15T13:58:57+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3\"},\"headline\":\"Bridge Loans\",\"datePublished\":\"2021-02-16T22:49:07+00:00\",\"dateModified\":\"2023-09-15T13:58:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/\"},\"wordCount\":499,\"publisher\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\"},\"articleSection\":[\"blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/\",\"name\":\"Bridge Loans - Foundation Mortgage l Knoxville TN Home Loans\",\"isPartOf\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#website\"},\"datePublished\":\"2021-02-16T22:49:07+00:00\",\"dateModified\":\"2023-09-15T13:58:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/integrumresources.com\/fmloans\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bridge Loans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#website\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/\",\"name\":\"Foundation Mortgage l Knoxville TN Home Loans\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/integrumresources.com\/fmloans\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\",\"name\":\"Foundation Mortgage l Knoxville TN Home Loans\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png\",\"contentUrl\":\"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png\",\"width\":1040,\"height\":254,\"caption\":\"Foundation Mortgage l Knoxville TN Home Loans\"},\"image\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/integrumresources.com\/fmloans\"],\"url\":\"https:\/\/integrumresources.com\/fmloans\/author\/webadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bridge Loans - Foundation Mortgage l Knoxville TN Home Loans","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Bridge Loans - Foundation Mortgage l Knoxville TN Home Loans","og_description":"Are you a current homeowner looking to purchase a new home quickly? Many homebuyers plan on using the funds from the sale of their current home to purchase their new property, however sometimes the closing and sale dates don\u2019t always coincide, and can cause financial stress. In cases like these, a bridge loan can provide [&hellip;]","og_url":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/","og_site_name":"Foundation Mortgage l Knoxville TN Home Loans","article_published_time":"2021-02-16T22:49:07+00:00","article_modified_time":"2023-09-15T13:58:57+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/#article","isPartOf":{"@id":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/"},"author":{"name":"admin","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3"},"headline":"Bridge Loans","datePublished":"2021-02-16T22:49:07+00:00","dateModified":"2023-09-15T13:58:57+00:00","mainEntityOfPage":{"@id":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/"},"wordCount":499,"publisher":{"@id":"https:\/\/integrumresources.com\/fmloans\/#organization"},"articleSection":["blog"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/","url":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/","name":"Bridge Loans - Foundation Mortgage l Knoxville TN Home Loans","isPartOf":{"@id":"https:\/\/integrumresources.com\/fmloans\/#website"},"datePublished":"2021-02-16T22:49:07+00:00","dateModified":"2023-09-15T13:58:57+00:00","breadcrumb":{"@id":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/integrumresources.com\/fmloans\/bridge-loans\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/integrumresources.com\/fmloans\/bridge-loans\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/integrumresources.com\/fmloans\/"},{"@type":"ListItem","position":2,"name":"Bridge Loans"}]},{"@type":"WebSite","@id":"https:\/\/integrumresources.com\/fmloans\/#website","url":"https:\/\/integrumresources.com\/fmloans\/","name":"Foundation Mortgage l Knoxville TN Home Loans","description":"","publisher":{"@id":"https:\/\/integrumresources.com\/fmloans\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/integrumresources.com\/fmloans\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/integrumresources.com\/fmloans\/#organization","name":"Foundation Mortgage l Knoxville TN Home Loans","url":"https:\/\/integrumresources.com\/fmloans\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/","url":"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png","contentUrl":"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png","width":1040,"height":254,"caption":"Foundation Mortgage l Knoxville TN Home Loans"},"image":{"@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/integrumresources.com\/fmloans"],"url":"https:\/\/integrumresources.com\/fmloans\/author\/webadmin\/"}]}},"_links":{"self":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/comments?post=3483"}],"version-history":[{"count":2,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3483\/revisions"}],"predecessor-version":[{"id":8890,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3483\/revisions\/8890"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/media?parent=3483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/categories?post=3483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/tags?post=3483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}