Philly Advantage Bridge Loan

Empowering Your Next Move with Confidence

In today's competitive real estate market, timing is everything. The Philly Advantage Bridge Loan offers a strategic solution for homeowners looking to purchase a new property before selling their current one. This short-term financing option provides the flexibility to make strong, non-contingent offers, enhancing your position as a buyer.

How the Philly Advantage Bridge Loan Works

The Philly Advantage Bridge Loan allows you to leverage the equity in your current home to secure a down payment for your new property. We pay off your existing mortgage and provide cash-out funds, enabling you to move forward with your home purchase without waiting for your current home to sell.

Key Features:

  • No Monthly Payments: Defer payments for up to 12 months on owner-occupied properties, allowing you time to sell your current home.

  • No Impact on Debt-to-Income Ratio: The bridge loan does not affect your qualifying DTI for the new home purchase.

  • Extended Time to Sell: Up to 12 months to sell your departure property, maximizing its sale price.

  • Flexible Use of Funds: Utilize the cash-out funds for various purposes, including home improvements or covering closing costs.

Loan Terms & Eligibility

Owner-Occupied Properties:

  • Loan Amounts: Up to $2 million.

  • Loan-to-Value (LTV): Up to 75% for loans up to $1.5 million; up to 65% for loans between $1.5 million and $2 million.

  • Term: 12 months with no monthly payments required.

  • Income Documentation Options: Full documentation, 12- and 24-month bank statements, or asset depletion.

Non-Owner Occupied and Second Homes:

  • Loan Amounts: Up to $1 million.

  • Loan-to-Value (LTV): Up to 60%.

  • Term: 6 months with no monthly payments required.

Ideal Candidates for the Philly Advantage Bridge Loan

This program is perfect for:

  • Homeowners Ready to Move: Those looking to purchase a new home but needing time to sell their current property.

  • Buyers in Competitive Markets: Individuals aiming to make non-contingent offers that stand out in bidding wars.

  • Clients Seeking Flexibility: Borrowers who want to access their home's equity without immediate repayment pressures.

Why Choose PHilly Advantage Bridge Loan

At Philadelphia Mortgage Company, we understand the challenges of navigating the real estate market. Our PhillyAdvantage Bridge Loan is designed to provide you with the financial flexibility and confidence needed to secure your next home. With competitive rates, personalized service, and a streamlined approval process, we're here to support you every step of the way.