Our client, a highly decorated U.S. Air Force Colonel and neurosurgeon, was under contract to purchase a second home in Utah for $1.425 million. However, his bank was taking a long time to close his loan. Part of the issue was his change in income due to his recent change in his business model.
His earnest money deposit had gone hard, and the closing deadline was just around the corner.
We were able to get him approved for a bridge loan by a private lender. With all hands on deck, we were able to close him on time.
Since there is no prepayment penalty, our client will be able to refinance once his business model and income stabilize.
Up against a pressing closing deadline? A bridge loan can be the perfect solution. Contact us here.