Have equity you want to leverage against a new purchase (without selling an existing property first)?
A cross-collateral loan may be the solution you’re looking for.
First Bridge Lending offers cross-collateral loan, and can provide new financing that includes two or more properties for collateral (including existing properties and the new purchase), including release provisions for each property. The cross-collateral loan secures multiple properties in one monthly payment for the buyer.
This loan type can offer many advantages to the right buyer or investor, including:
- Borrowers can leverage equity from another property they own
- Borrowers can gain more equity in a cross-collateral deal
- Borrower can have one monthly loan payment instead of multiple loans, on multiple properties
- Lenders can get the additional security they need to finance a tough loan with unique terms