Bridge Loans

LOAN OPTIONS

Bridge Loans

LOAN OPTIONS

Bridge Loans

Our Bridge Loan Can Help You Get Into Your New Home

Our Bridge Loans can help homeowners purchase a new home while waiting for their current home or second home to sell. It is a short-term loan that is designed to provide temporary financing for a new primary residence up to $750,000. The equity in the current home is used for the down payment on the purchase of a new home, while waiting for the current home to sell.

How Does a Bridge Loan Work?

  • Gives you access to the equity in your current home
  • Pays off any existing liens on your current property
  • Allows you to pay only the interest on the bridge loan while making mortgage payments on the new home
  • Is paid off when your current property sells
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Benefits of a Bridge Loan

young couple discussing documents
  • Avoid moving twice
  • Access equity quickly without waiting to sell
  • Present a stronger purchase offer
  • Interest-only payments
  • Up to 2 possible extensions

Locate a Mortgage Loan Officer near you.

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800.327.9862

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WV, VA, MD, DC, NC, SC, OH, KY, PA. All borrowers must have a credit score of 700 and additional credit requirements. 1% origination fee waived on all WV properties. Required to qualify independently for both payments. Fulfillment of Bridge Loan terms dependent on equity available at sale of subject property.
United Bank is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Reserve, Federal Reserve Consumer Help, PO Box 1200, Minneapolis, MN 55480.
This is not a commitment to lend. Mortgage products and services are offered through United Bank. All loan applications are subject to credit and property approval and must meet loan program requirements to qualify. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required.  Speak with a Mortgage Loan Officer for more specific information.
United Bank and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.