20 Dec '17, 12pm

What You Need to Know About Bridging Home Loans

What You Need to Know About Bridging Home Loans

Buying your dream home is always exciting. You are finally trading your old house for a home that you have always dreamed of owning and living in every single day of your life. You’re so caught up in the excitement that you have completely forgotten that you have not yet received the sales proceeds from your old house. The offer on your dream home is closing soon and you do not have enough down-payment to afford it! This is literally like you are trying to step into your home but the door is locked and you don’t have the key. Under this circumstance, your bank can even refuse to extend the loan to you. This is like being caught between a rock and a hard place. However, fear not. You can get out of this situation. How? With a bridging loan! What is a bridging loan? A bridging loan is a short-term loan offered by a bank, which will serve the purpose bridging the monetary gap...

Full article: https://www.iproperty.com.sg/news/what-you-need-to-know-a...

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