Case Study: Multi-State + Cross Collateralization
Arrival Home Loans
Simplifying the buy-before-sell process with our unique bridge loan product. Plan the arrival into your new home today!
SITUATION- The client wanted to downsize and purchase a new build in Scottsdale, Arizona but had not yet sold her home in Westlake Village, California.
CHALLENGE- The couple could not qualify with mortgages on both homes. New homebuilders generally will not accept a purchase offer that includes a sale contingency. Additionally, a multi-state purchase and sale cannot be easily solved by power buyers or lenders not equipped to do multi-state cross-collateralized lending.
SOLUTION- Arrival’s solution collateralizes two properties in one loan eliminating the need for multiple transactions, leasebacks, and other points of friction while also allowing the client to purchase the new home in Arizona before selling their California residence.
RESULT- With our bridge loan, the client was able to complete the purchase of their new home and move to Arizona without the weight and wait of selling first. The client subsequently paid off the Arrival loan after they sold their California residence within 6 months through a refinance using the conventional lender who first referred her to Arrival Home Loans.
Learn how we help your clients achieve the financial freedom that comes with an Arrival bridge loan!
PROGRAM HIGHLIGHTS:
*Higher loan amounts considered by exception
Want to learn more or have a loan scenario? Let's Talk! Reach out to [email protected] to learn more about income producing partnership opportunities.
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