Porting Your Mortgage
Moving your current rate and terms to the new home avoids an early-break prepayment penalty.
- PortCarry an exceptionally low fixed rate and your contract terms over to the new property.
- Blend and extendIf the new home needs a larger loan, the lender blends your current rate with today's market rates.
Bridge Financing
It covers the temporary cash gap when your purchase closes before your sale does.
Firm sale
your sale agreement must be firm
Up to 90 days
typical bridge term
Lenders advance the equity from your firm sale agreement to act as the down payment on the new purchase for that short term.
Purchase Plus Improvements
Don't pass on a home just because of an outdated layout — renovation costs can go into the mortgage.
You can add renovation expenses, up to a set percentage of the property value, to your initial mortgage, based on the estimated "as-improved" value.
Approval on the as-improved value
Renovation costs are added to the mortgage up to the lender's limit.
Funds held in trust
Your real estate lawyer holds the renovation cash in trust at closing.
Released after inspection
Paid to your contractors once the upgrades pass inspection.