Have you heard of a “bridge loan?” Many people have, but don’t know exactly what it does or how to get one. A bridge loan product is designed to help people “bridge” the equity from their current home to the next. Not all mortgage lenders offer residential bridge loans because of risk, and the fact they are not as profitable to the company. Speaking with Jay Richardson, who is a Senior Loan officer with MVB Mortgage in Fairfax, Virginia…he has said that not only do they offer bridge loans in the DC metro area, but they offer a host of other temporary loan options that have helped hundreds of clients prevent the “bad” timing issues that can come up when a client moves from one home to the next.
Today I’m doing something I don’t normally do, and that is have a “guest blogger” on the website. There are a lot of consumers out there looking for specific mortgage information when it comes to buying a home or refinancing. I reached out to my buddy Jay Richardson with MVB Mortgage in Fairfax, VA and had him provide some top mortgage questions and answers that would be the most helpful to the consumer seeking this information. Jay is very insightful, as he is consistently ranked in the “Top 200 Loan Officers in the USA.” Hopefully, these top mortgage questions and answers are helpful and provide a better understanding of your loan options.
Take it away Jay!!