Retiree or Fixed-Income Bridge Loan Program
Stay Flexible on a Fixed-Income
If you’ve settled into retirement and life on a fixed income and have found you cannot qualify for conventional loans, a Retired Mortgage Bridge Loan can help you move closer to family and quality medical care. Hurst Lending created this bridge loan option to ensure you get “credit” for the home equity you’ve spent your life building and to make moving closer to loved ones possible, regardless of a fixed income. This option creates a new 1st lien bridge loan on a new home in the right location that is paid off when your old home sells.
For example, if you own a $500,000 home that is completely paid off, but too far away from medical care or family, and have found the perfect $250,000 house or condo near relatives, but cannot qualify for a conventional loan based on your social security income, a short-term bridge loan allows you to use the equity in your current home before it sells to secure the right home in the right location. Then, as soon as your old home sells, the bridge loan is paid off!
If you are interested in getting more information about our Retired Mortgage Bridge Loan program please click the button below to contact us today.