Is this still done? We are looking for a mortgage to buy a property until we do some improvements on and sell our present home. In my day, they called that a bridge loan. Not sure if that is still the terminology today.
We are offering on a $525k property. In the end, after our present home sells, we will likely need a permanent mortgage on the new home of about half of that.
Having not done this in many, many years (been in our present home for 22 years), I am not certain this is still done. The mortgage world has changed so much.
Any opinions on what we may be looking at for terms, length of time, etc?
And...to add to the fun...my husband and I are both self-employed.
