Home Equity Loan vs. HELOC: What's the Difference?
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🏠 Buying a home in Florida but need quick funds? Here’s how a Bridge Loan can help you move smoothly. A Bridge Loan lets you use your current home's equity to cover a down payment on your new home. Key points: • Up to 75% Loan-to-Value for primary homes • No monthly payments during the loan term • Loan term: 12 months (primary), 6 months (second homes/investments) • Balloon payment to clear the loan at the end This short-term loan supports non-contingent offers, perfect if you need to relocate
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