Everything You Need to Know About Kiavi Bridge Loans

Kiavi Bridge Loans

When individuals are in need of financial help to bridge the gap between buying a new property and selling an existing one, bridge loans can be a valuable option. Kiavi bridge loans, offered by Kiavi Financial, are a type of short-term financing that provides borrowers with the necessary funds to purchase a new property while waiting for their current property to sell.

What Is a Kiavi Bridge Loan?

A bridge loan is a short-term loan that helps bridge the gap between the purchase of a new property and the sale of an existing one. Kiavi bridge loans, provided by Kiavi Financial, are secured by the borrower’s existing property and are used to cover the down payment and closing costs of a new property.

How Do Kiavi Bridge Loans Work?

Kiavi bridge loans work by giving borrowers the funds needed to purchase a new property before selling their current one. The loan is secured by the borrower’s existing property, which serves as collateral. Once the new property is purchased, the borrower can sell their existing property and use the proceeds to repay the bridge loan.

Benefits of Kiavi Bridge Loans

Kiavi bridge loans offer quick access to funds, flexibility in repayment terms, and competitive rates. Borrowers can benefit from these advantages when using Kiavi bridge loans for their real estate needs.

FAQs

– Eligibility requirements for a Kiavi bridge loan typically include having sufficient equity in the existing property and a strong credit history. Kiavi Financial will assess each borrower’s financial situation to determine eligibility.
– The amount that can be borrowed with a Kiavi bridge loan depends on the equity in the existing property and the value of the new property being purchased.
– The approval process for a Kiavi bridge loan can vary, but typically borrowers can expect approval within a few days to a week after submitting their application.
– The repayment term for a Kiavi bridge loan is typically short, ranging from a few months to a year, with repayment expected once the existing property is sold.

In conclusion, Kiavi bridge loans can be a beneficial option for individuals looking to purchase a new property while waiting for their current property to sell. Consider exploring the options offered by Kiavi Financial if you are in need of short-term financing to bridge the gap between buying a new property and selling your existing one.