Land Lease Home Loans
Bridgit: An Alternative to Land Lease Home Loans
A Land Lease Home Loan is a housing finance solution that provides eligible individuals with loans to purchase land lease properties – for example, retirement or community homes. However, you’re not limited to them when it comes to financing your land lease home needs.
Bridgit’s bridging loans offer a way to finance your dream home, even if it is a land lease property. Bridgit’s short-term property loans allow you to buy a new property before you have sold, tapping into existing home equity to purchase your land lease home.
What are land lease home loans?
A general overview
When you buy a home, you usually also buy the land that your home is on. However, there’s another option: to purchase a property, which is a land lease.
There are short-term property loan options that allow people to purchase just the dwelling (or the house itself), which are similar to a normal home loan.
These short-term home loans for land lease property purchases are far and in between, with a lot of lenders not offering this product type due to their lending criteria.
However, it’s important to be aware that you’re not limited Land Lease Home Loans when considering this type of purchase.
Considering alternatives
There are alternative home loans out there that you could consider when purchasing a land lease property type.
At Bridgit, we’re here to show you how you could use bridging loans to purchase your dream land lease home on your terms.
Buy your dream home with Bridgit
Offering alternatives to Land Lease Home Loans
Instead of considering Land Lease Home Loans, wouldn’t you like the ability to purchase your next home on your own terms? Bridgit’s bridging loans are short-term loans secured against property that allow eligible applicants to tap into the current equity of their home before they have sold to buy their dream retirement or community home.
This allows individuals to seize opportunities and purchase their dream home before they have sold, avoiding the traditional obstacles that come with buying before selling. Whether that be the requirement of finding a short term rental, having to move multiple times, the hidden costs that come with this, or missing out on that dream property because you haven’t sold yet.
Providing convenience through technology
We know how competitive the real estate market can be, which is why our platform is powered by advanced technology to give our customers the best chance at securing their dream homes.
Applicants only need five to ten minutes to complete the application process. Approval could be secured within twenty-four hours, and settlement is possible in as little as a few days. Now, home buyers have a new option to consider when looking to secure a land lease home with Bridgit’s bridging loan.
How it works
Bridgit will offer a single security bridging loan, where the loan is secured against the existing property that is being sold. The loan amount includes the funds required to purchase the property you’ve been eyeing. We will also refinance your existing mortgage, so you won’t have to worry about managing multiple mortgages or monthly repayments.
When you downsize, you usually won’t be left with a balance after the sale of your home, so we can immediately release security for all your properties.
Disclaimer: Unless otherwise specified, the opinions expressed in this article are strictly for general informational purposes only and should not be taken as financial advice or recommendations. Any views are subject to change without notice at any time.
A Land Lease Home Loan is a housing finance solution that provides eligible individuals with loans to purchase land lease properties – for example, retirement or community homes. However, you’re not limited to them when it comes to financing your land lease home needs.
Bridgit’s bridging loans offer a way to finance your dream home, even if it is a land lease property. Bridgit’s short-term property loans allow you to buy a new property before you have sold, tapping into existing home equity to purchase your land lease home.
What are land lease home loans?
A general overview
When you buy a home, you usually also buy the land that your home is on. However, there’s another option: to purchase a property, which is a land lease.
There are short-term property loan options that allow people to purchase just the dwelling (or the house itself), which are similar to a normal home loan.
These short-term home loans for land lease property purchases are far and in between, with a lot of lenders not offering this product type due to their lending criteria.
However, it’s important to be aware that you’re not limited Land Lease Home Loans when considering this type of purchase.
Considering alternatives
There are alternative home loans out there that you could consider when purchasing a land lease property type.
At Bridgit, we’re here to show you how you could use bridging loans to purchase your dream land lease home on your terms.
Buy your dream home with Bridgit
Offering alternatives to Land Lease Home Loans
Instead of considering Land Lease Home Loans, wouldn’t you like the ability to purchase your next home on your own terms? Bridgit’s bridging loans are short-term loans secured against property that allow eligible applicants to tap into the current equity of their home before they have sold to buy their dream retirement or community home.
This allows individuals to seize opportunities and purchase their dream home before they have sold, avoiding the traditional obstacles that come with buying before selling. Whether that be the requirement of finding a short term rental, having to move multiple times, the hidden costs that come with this, or missing out on that dream property because you haven’t sold yet.
Providing convenience through technology
We know how competitive the real estate market can be, which is why our platform is powered by advanced technology to give our customers the best chance at securing their dream homes.
Applicants only need five to ten minutes to complete the application process. Approval could be secured within twenty-four hours, and settlement is possible in as little as a few days. Now, home buyers have a new option to consider when looking to secure a land lease home with Bridgit’s bridging loan.
How it works
Bridgit will offer a single security bridging loan, where the loan is secured against the existing property that is being sold. The loan amount includes the funds required to purchase the property you’ve been eyeing. We will also refinance your existing mortgage, so you won’t have to worry about managing multiple mortgages or monthly repayments.
When you downsize, you usually won’t be left with a balance after the sale of your home, so we can immediately release security for all your properties.
Disclaimer: Unless otherwise specified, the opinions expressed in this article are strictly for general informational purposes only and should not be taken as financial advice or recommendations. Any views are subject to change without notice at any time.
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