Bump for a question in regards to bridge loans. Let's say you own a $250K home (A) and are buying a $500K (B) home. You sell home A and just bought home B. You need a bridge loan because you take possession of home B a month before your sale of home A goes through. Furthermore you have a $150K mortgage on home A that you are porting.
How much would the bridge loan be for? $250K? $100K? Or some other amount?
|