Bridge Loans

Bridge Loans are designed to assist homeowners in financing the purchase or construction of a new single family, owner occupied home while still in the process of selling their existing home. The Bridge Loan will place a 2nd mortgage on your existing home, to provide a down payment on your new home. The Bridge Loan has no payment due until the end of the 6 month term or 1 year for new construction, or when your home is sold, whichever comes first.

Major loan terms and conditions are:

• The maximum LTV is 80%
• The loan term is 6 months or 12 months for new construction
• Principal and interest is due at maturity
• Great Midwest must finance the new home

Call or e-mail one of our Loan Officers for more information.