A short-term loan used to enable the purchaser of a new property to buy that property on the strength of the equity from the property the purchaser is now selling.
A short-term loan given on the basis of a seller's equity. Title - Evidence of a person's right to ownership in real property.
Sometimes called a bridge loan, a swing loan is generally a loan that is secured by a borrower’s current residence to obtain the funds needed to purchase a new home if the current residence will not be sold prior to the purchase of a new home.
A loan, normally short term, used by an owner to purchase real estate pending the sale of another property. Normally, the loan is repaid from the owner's equity if and when the previous property sells.
A short-term loan that allows a homeowner to purchase a home before selling the former residence. Also called a Bridge Loan or Gap Loan.
A short-term loan designed to bridge the borrowers finances between two events. For example, a person who buys a new home in April but cannot sell her old home until June may require a swing loan to carry both homes for the interim period until the old home may be sold and the proceeds used to pay out the swing loan. Also known as bridge financing.