Beverly Hills luxury real estate | Erik Brown

BRIDGE LOAN SERVICES

A bridge loan is a short-term loan that uses the equity from your current home to help you make an offer on a new one, without rushing to sell.

BRIDGE THE GAP BETWEEN THE HOME YOU HAVE & THE HOME YOU WANT

Our Solution

After months of research, Compass has selected lenders that are offering competitive rates and dedicated service for Compass clients. Already working with a lender you love? No problem. This unique solution lets you choose the provider that works best for you.

Bridge Loan Advantage

Work with a Compass agent to sell your current home and get up to six months of your bridge loan payments and other associated costs fronted — an exclusive offering for Compass clients, regardless of the lender you use.

DOES A BRIDGE LOAN MAKE SENSE FOR YOU?

IS YOUR MONEY TIED UP IN THE EQUITY OF YOUR CURRENT HOME?

If you want to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home — like for a down payment or mortgage payments. Once your current home sells, you can use the proceeds to pay the bridge loan back.

DO YOU NEED TO MOVE WITHIN A SPECIFIC TIMEFRAME?

If you’re relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.

WHO IS ELIGIBLE FOR THE BRIDGE LOAN ADVANCE?

Whether you’re using Compass Concierge to increase your home’s value, or are making improvements on your own, it may be easier to have construction work done when you’re out of the house. A bridge loan can help you move faster so you’re out of the house while those improvements are being completed.

HOW IT WORKS

1: Inquire directly with a bridge loan lender, such as Better Mortgage or Freedom Mortgage, to see financing options and if you qualify.

2: Apply to get pre-approved for a bridge loan with the lender of your choice, while searching with your Compass agent for your next home.

3: If approved for a bridge loan, learn more about getting the first six months of your bridge loan payments fronted via the Bridge Loan Advance by Notable, an independent lender.

4: If needed, use your approved bridge loan to strengthen your bid on a new home.

5: Move into your new home while your Compass agent works to sell your current home.

Use Compass Concierge home improvement services to sell your home faster and for more money.

6: When your old home sells, simply use the proceeds to pay back the bridge loan and Bridge Loan Advance.

How to find a lender offering bridge loans?

While Compass clients are encouraged to research multiple options to find the best lender for them, RoundPoint Mortgage Servicing Corporation is a well established industry lender who offers short-term financing and has years of experience working with Compass agents and clients.

When looking for a mortgage, it’s important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home-buying or refinancing needs, regardless of how unique your circumstances may be. That’s the Freedom Mortgage difference.

Freedom Mortgage
The Mark Maimon Team

855-915-8500

thebridgeloanguy@freedommortgage.com

Available to serve customers in all states.

Better Mortgage is making homeownership simpler, faster, and most importantly, more accessible for all Americans. No commission, an easy digital process, and award-winning service are just a few of the ways Better Mortgage is redefining what it looks like to get a mortgage.

Better Mortgage
Better Bridge Loan Team
844-875-1234
bridgeloans@better.com

Available to serve clients in all states except MA, VA, VT, NH, HI, MN, NC, WY, ID, and NV.
More states coming soon.

*The Bridge Loan Advance for Compass clients is a loan provided by Notable Finance, LLC, NMLS# 1824748 and is available to all eligible Compass clients working with the Bridge Loan lender of their choice. Notable’s phone number for applicants only: 833-615-0249. Loan eligibility is not guaranteed and all loans are subject to credit approval and underwriting by Notable. Loans made or arranged pursuant to a California Finance Lenders Law license. Compass is not a lender and is not providing loans as part of Compass Bridge Loan Services.

Information regarding lenders which offer short-term Bridge Loan financing is provided for informational purposes only and does not constitute an endorsement of the particular lenders referenced. Compass cannot guarantee that these institutions will be able to assist and does not assume any responsibility as to the performance of services to be provided by these institutions. There are no requirements that you participate in the Compass Bridge Loan Services or obtain a loan from these providers to participate in any other Compass programs (such as Compass Concierge). Speak to your Bridge Loan lender about all the costs you may be responsible for in connection with your Bridge Loan.

ERIK BROWN

All material presented herein is intended for information purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. All property information, including, but not limited to square footage, room count, the number of bedrooms, and the school district in property listings should be verified by your own attorney, architect, or zoning expert.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate.

BRIDGE LOAN SERVICES