You found the right next home. The equity to help buy it may already be in the home you own today.
With the First Savings Mortgage Portfolio Bridge Acquisition Loan, qualified homeowners can put that equity to work before their current home is listed or sold. For homeowners with sufficient equity, that can mean up to 100% financing of the new home’s purchase price — without waiting for a sale to unlock the funds for the next move.
The result? More buying power when you need it, more control over your timing and the ability to make a non-contingent offer that can compete more like cash.
A bridge loan is short-term financing designed to help homeowners purchase a new home before selling their current one. It provides access to home equity before that equity becomes available through a sale, helping bridge the financial gap between the two homes.
That’s where the similarities can end.
The First Savings Mortgage Portfolio Bridge Acquisition Loan goes beyond simply providing funds for a down payment.
Our portfolio solution looks at the available equity in your current home and how it can help support your next purchase. For qualified homeowners with sufficient equity, that can provide up to 100% financing of the new home’s purchase price.
And your current home doesn’t have to be sold, under contract or even listed first.
That can completely change the sequence of your move. Instead of arranging your next purchase around the sale of your current home, you may be able to secure the next home first — and then turn your attention to selling the one you’re leaving.
Buying and selling at the same time isn’t only a financing challenge. It’s a life challenge.
Selling first can mean temporary housing, storage and moving twice. It can also mean trying to find the right next home while the clock is ticking on the sale of your current one.
Bridge financing gives qualified homeowners another way to approach it:
Find the home. Buy the home. Move into the home. Then sell.
For many homeowners, that can mean one move instead of two — and more control over everything happening in between.
When your next purchase depends on selling your current home, you may need to include a home-sale contingency in your offer.
The Portfolio Bridge Acquisition Loan may allow you to make a non-contingent offer that can compete more like cash.
That can be valuable in a multiple-offer situation, but it isn’t only about highly competitive markets. A non-contingent offer can give you and your real estate agent another way to approach negotiations whenever a seller is evaluating the strength and certainty of an offer.
Imagine preparing your current home for market after you’ve already moved out.
No working around showings while you’re living there. No packing between appointments. No trying to keep everything photo-ready while you’re still using the home.
Buying first may give you and your real estate agent more flexibility to prepare the departing residence for market — whether that means decluttering, staging, completing updates or simply choosing the right time to list.
Your next purchase doesn’t necessarily have to dictate when the FOR SALE sign goes up.
The equity opportunity isn’t limited to a local move.
Your departing residence can be located in any of the 50 states. The new home being purchased must be located in one of the seven jurisdictions where First Savings Mortgage is licensed to lend:
Delaware • District of Columbia • Florida • Maryland • North Carolina • South Carolina • Virginia
So whether you’re moving across town or across the country, the location of the home you’re leaving doesn’t necessarily prevent its equity from becoming part of the financing strategy for the home you’re buying.
For some homeowners, the funds needed for the next purchase aren’t unavailable — they’re simply held in different places.
You may have significant equity in your current home while also holding investments or other assets that you would prefer not to liquidate simply to create funds for the next purchase.
The Portfolio Bridge Acquisition Loan may provide another option by putting available home equity to work first.
Decisions involving investments, taxes and your broader financial strategy are individual. Talk with your financial advisor or tax professional before deciding whether to sell, retain or reposition investments or other assets. Your First Savings Mortgage Advisor can help you understand the home financing options available to you.
Depending on your individual situation, available equity may help with more than purchasing the next home.
It may also provide funds for:
That can be especially useful when the home you’re buying needs work before you move in — or when you’d simply rather make those changes before the boxes arrive.
The Portfolio Bridge Acquisition Loan is a First Savings Mortgage portfolio solution with local decision-making and the flexibility to look at the complete transaction.
That’s important when your opportunity doesn’t fit neatly into the traditional sequence of sell first, access your equity, then buy.
You already built the equity. The question is what that equity could make possible before you sell.
Here’s what that flexibility can look like:
Maybe you’ve been waiting to list because you don’t know where you’ll go next. Maybe you’ve already found the next home but assumed you need to sell first. Maybe you have investments you don’t necessarily want to liquidate. Or maybe you simply didn’t know that the equity you’ve already built could give you another way to make your move.
That’s the conversation worth having.
A First Savings Mortgage Advisor can look at the equity you have, the home you want to purchase and what you’re trying to accomplish to determine whether the Portfolio Bridge Acquisition Loan could change the way you buy and sell.
Buy now. Move once. Sell later.
Let’s see what your equity can make possible.
The First Savings Mortgage Portfolio Bridge Acquisition Loan is subject to credit approval, underwriting requirements, property eligibility, sufficient equity, and other program guidelines. Not all applicants will qualify. Financing up to 100% of the new home’s purchase price is available only to qualified applicants with sufficient eligible equity in the departing residence and is subject to applicable program requirements. Transactions completed without an appraisal are not guaranteed and depend on the individual transaction, property eligibility, and applicable program requirements. Interest-only payments do not reduce the principal balance. A Portfolio Bridge Acquisition Loan is secured by real property and involves repayment obligations; failure to meet those obligations may result in loss of the property securing the loan. Availability, terms, conditions, and program guidelines are subject to change without notice. This information is for informational purposes only and is not a commitment to lend or an offer to extend credit. Consult your financial advisor or tax professional regarding your individual financial or tax circumstances.
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