April 10, 2025 • 30 mins
Caught in the real estate catch-22 of needing to sell your home before buying a new one? This episode with mortgage expert Nathan Lindley breaks down how bridge loans can transform your buying and selling experience, potentially saving you thousands while reducing stress.
Nathan explains how bridge loans allow you to tap your existing home equity to purchase your next property before selling, eliminating the need for contingent offers that often get rejected in competitive markets. We explore both traditional approaches and innovative new products that have emerged in the last 18 months, including options that require no monthly payments during the transition period.
The financial advantages are compelling: make stronger offers without sales contingencies, avoid rushed selling decisions under time pressure, and potentially secure better prices on both transactions. The practical benefits might be even more valuable - no more coordinating same-day closings, time to renovate before moving in, and elimination of temporary housing arrangements.
What makes this conversation particularly valuable is Nathan's candor about when these solutions make sense and when they don't. He offers creative strategies for using bridge financing as a backup plan rather than a first option, explains how they work with contingent offers, and highlights the importance of working with knowledgeable professionals who understand these specialized products.
Whether you're planning a move soon or simply want to understand all your future options, this episode provides clear, practical insights into one of real estate's most challenging transitions. Ready to learn if a bridge loan might be right for your next move? Connect with Nathan through the contact information in our show notes.
To contact Nathan Lindley:
email: lindleyloanteam@goldstarfinancial.com
phone: 727.452.9868
https://www.instagram.com/thelindleyloanteam/
https://www.facebook.com/TheLindleyLoanTeam
Sarah Thress
614-893-5885
First Time Home Buyer course: https://sarahthress.graphy.com/
Instagram https://www.instagram.com/sarah_thress_realtor/
Facebook https://www.facebook.com/SarahThressRealtor/
https://www.youtube.com/@LIFEINCOLUMBUS
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Hi and welcome to this week's episode of Come to
Find Out.
This week, we are with NathanLindley with Gold Star Mortgage,
and if you've been listening atall, you know that he's
recorded a few other episodeswith me, so it's been so nice of
him to take so much time out ofhis busy schedule to help
(00:23):
educate us.
But Nathan and his team arelocated in Florida to take so
much time out of his busyschedule to help educate us, but
Nathan and his team are locatedin Florida.
As you all know that I amlicensed here in Ohio and in
Florida, so I really wanted tomake sure that I'm getting some
good information out there forpeople that are looking to buy
or sell in the Florida market,as well as getting information
from Nathan so that you canunderstand that if you're
working with market, as well asyou know, getting information
(00:44):
from Nathan so that you canunderstand that if you're
working with him, he is very,very knowledgeable and he's
going to take really good careof you.
So, nathan, thank you, yeah,thank you, yeah, absolutely so,
today I really wanted to talkabout bridge loans and you know,
I feel like I feel like a lotof people you know hear that
(01:05):
word bridge or recast, or somepeople call it the blanket loan,
whatever you want to call it.
But I think that with ratescoming down, more buyers getting
back into the market, which isgoing to incentivize more people
that were already going to haveto sell.
Now they're like oh gosh, now'sthe time.
(01:26):
But they're trying to figureout does it make sense for me to
buy and then sell, or do I needto sell first and then buy?
Should I do a contingent on ahome sale, end the contract,
things like that?
So all of those things become,you know, less options as the
market continues to get, youknow, crazier.
(01:47):
So I would love for you to justkind of explain, you know
bridge loan and how you feelthat that you know helps people
to be more competitive and youknow, and just kind of give us
some insight.
Speaker 2 (02:01):
So absolutely, and let's start at a real high level
and you know, define a bridgeloan.
So a bridge loan is takingequity in your existing
residence and somehow using itto purchase your next home, your
(02:25):
next home.
And the reason you would dothat?
There's a couple reasons youwould do that.
The benefits of doing thisprocess of somehow getting your
equity and transferring it tothe purchase of your new home
without selling first, is numberone.
It allows you to purchasewithout a sales contingency and
on the realty side, that'sgolden for both buyers and
sellers.
It makes it much easier to sellthe property to somebody who
(02:47):
doesn't have and accept an offerthat doesn't have a, you know,
a contingency on another sale,so that you don't end up with
stacked transactions.
It also can affect what you canexpect to get from the sale of
your home.
You know, if you're under thegun of like well, I'm under
contract to buy this house in 45days and I just listed mine,
(03:09):
you pretty much have to takewhatever offer you get in the
first five to 10 days.
You know, like you don't havetime to mess around.
You better be just taking thatfirst offer that you get and you
maybe you know, maybe it'sdifficult to stage your house.
I mean, if you've got threekids, five pets and have been a
hoarder for the past six years,maybe your house doesn't show as
well.
You know, maybe your housewould show a lot better if you
(03:32):
move out, and you know.
So those are the reasons toconsider something like this.
You know, those are the two bigreasons is, you know, better
negotiating power because youdon't have a sales contingency,
and better listing power becauseyou're not under a time crunch
gun of I've got to take thefirst offer that comes and
(03:53):
potentially, you know, able tosell for more.
Again, talk to your real estateprofessional or will help you
with that of.
You know whether or not thatmakes sense and what those
numbers might look like.
But so that's what we'retalking about here is, okay, how
can I take?
You know I own this house andlet's make up some big numbers
here.
Nice, easy numbers.
Remember, we've got a housethat's worth 500 and we owe 250
(04:16):
on it.
Okay, and I want to buy a housefor a million and I want to,
you know, have a $500,000 loanbecause that's how much equity I
have there.
So make that happen for me,great.
Well, the first step.
The way that we've done this fora long time is we would start
with your house and we would doa line of credit.
(04:39):
Okay, now this is kind oftricky because people that do
lines of credit don't reallylike to do lines of credit for
houses that are going to be sold.
So we try to do that before theproperty is listed for sale.
There are other options.
Now I actually have a companythat does a line of credit that
doesn't care if the property islisted for sale, but we do that
(05:00):
line of credit and we get Xamount of equity out of that.
So you know, if it's 500,000,we'll lend you against four.
You know 400.
Of that you owe 250.
So you're walking away with$150,000 of equity.
We use that for the downpayment and closing costs on the
new home.
(05:21):
And then one of the tricks thatI do with my clients is then
I'll put in another secondmortgage and then we'll do a
$500,000 first mortgage.
So you end up with the firstmortgage that you want, a second
mortgage on your new home thatwill get paid off when you sell
the existing home, and a secondmortgage on your existing home
(05:42):
and a first mortgage.
You got four mortgages.
You better have some income tobe able to qualify for those
four mortgages.
So over the past 10 years, thathas been the normal way of
doing a bridge loan.
You better be flush with cashto be able to handle those
payments.
Again, we work in somestrategies of owning and paying
(06:05):
for mortgages.
Yes, you have freedom andflexibility in how fast you sell
the property, but you don'twant to be carrying four
mortgages for that long either,so you want to make sure that
you're staging things and havingit ready to go pretty quickly.
Okay, so that's where we'vebeen over the past five, six,
(06:26):
seven years of how we do bridgeloans.
It lowers the stress in thesense of you're not trying to
buy and sell on the same day.
It moves over there, butthere's a carrying cost for
owning two properties for theperiod of time and there's the
stress of being able to handlethose payments.
Time and there's the stress ofbeing able to handle those
(06:48):
payments.
Great.
Now, in the past 18 months, twoor three products are coming
online.
That changed this a little bit.
We still go to the first house.
Now what we're going to do iswe're going to do a cash out
refinance.
We're going to pay off theexisting loan and we're going to
do is we're going to do a cashout refinance, okay, we're going
to pay off the existing loanand we're going to take 70, 75%
(07:09):
of the value of that property.
We're going to pay off the oldloan and we're going to get that
lump of cash.
We're going to move that moneyover, use it for the down
payment and closing costs of thenew loan or the new purchase
property.
Okay, that all sounds the same,but here's what's cool with
these new products.
With this new product, thatloan that you just took out on
(07:29):
your primary residence has nopayment.
The interest accrues from theday you close, which is three
days before your closing of yournew property, until you sell it
.
And you have a year to sell it.
Okay, so you can go.
(07:50):
You know again, you want tohave it listed and be ready to
sell it quickly, stage or assoon as you move out, all those
things.
But there's no paymentassociated with that property
and the interest on the loan isgoing to accrue and when you
sell it, you're going to paythat lump sum interest off.
That's the same mechanism thata reverse mortgage uses.
(08:12):
This is not a reverse mortgage,don't misunderstand me, but
it's the same mechanism of justpaying the accrual and there's.
So this would be a one yearballoon with no payment mortgage
that you do a refinance withand then over here now we've
used that money to have a downpayment on enclosing costs for
(08:36):
our new house.
Now we're probably going to dothis at an $800,000 mortgage
because we're going to use thatmoney for a 20% down payment and
the interest rate on this loanhas to be a little higher.
It's like, well, I'll just getthat with another lender.
No, no, no.
This product works.
The same lender has to do bothof them.
So you pay a little bit higherrate on this loan, which is okay
(08:59):
because we're in a decliningrate environment.
We know what we can do withthat rate in the very near
future.
We can refinance and get alower rate.
So in this house we start with alittle bit higher of a loan, we
start with a little bit higherof an interest rate, but we're
not making two payments.
We're not on both houses here,and so while we have this one
(09:21):
once, we sell this one now we'vegot the lump sum from the sale.
This loan has to stick aroundfor eight months.
The second loan has to stickaround for eight months and
after that eight-month timeframethen we do a refinance to
market rates.
Eight months from now, ratesare going to be lower than they
are right now.
I don't know how much, butthey're going to be lower.
So we're going to be getting amarket rate, a future market
(09:43):
rate, eight months from now, andwe can use that capital from
the sale to pay down the loan towhatever balance we want.
Or, if you know again, you talkwith your loan officer, you come
up with a strategy how you wantto use that capital.
You invest it someplace else,do you buy the loan down?
You know whatever you need todo, but the benefits being here
(10:04):
that you don't.
You're not in this situationwhere you have to both A qualify
for and, b be able tofinancially survive making three
or four mortgage payments.
You're using the sale of thehouse to pay for the interest
during the time of it and thenyou're being able to leverage
into that.
(10:24):
Is this the best case for you?
It depends.
It depends on your situation,it depends on your, on what your
goals are.
You know, is this the cheapestoption?
Absolutely not.
The cheapest option is going tobe to sell it in the morning
and buy in the afternoon andlive through that, through the
craziness and chaos, and hopeyou get the best you can.
That's absolutely going to beyour cheapest option because
(10:47):
you're not using somebody else'smoney for a period of time.
But for lots of scenarios andlots of situations especially if
we get really competitive withthe offers and buying again,
where you're coming in with acontingency offer and you keep
getting declined because thecontingency offer keeps getting,
you know, turned down thismight be a solution for you.
Speaker 1 (11:09):
Yeah, no, I love that and I love the way that you
really explained it in such agreat way.
You know, for anyone that'slistening to this, this will
also be.
You know, it'll be on myYouTube channel, also called
Come to Find out.
So if you want to see him, um,his visualizations with his
hands he's a hand talker justlike me Um, but I love that, uh,
(11:31):
that you explained it with.
You know, I'm always trying tolike, okay, over here, we've got
this, and then we're going togo over here and we've got this.
So I love that you explained itthat way, Thank you.
Speaker 2 (11:41):
Yes, and it's a neat product.
And there's that one, there'sanother one that does something
very similar, that gives you athree month window to be able to
sell your property.
There's a couple more of thesetypes of products that are
coming out, and when you seeproducts expanding and
(12:01):
developing, it's because there'sa need.
You know, it's because there'ssomebody needs this product.
And so the non-qualifiedmortgage.
You know, arena is coming upwith solutions, you know, and
this is their answer to thatsolution of how do I buy without
the chaos of trying to sell?
(12:23):
Or how do I buy when all of myoffers with the sales
contingency keep gettingdeclined?
Or how do I buy without sellingand then renting for you know
who knows how long?
you know, and paying for twomoves.
I mean that's the other way.
You could do this Again, I'mnot suggesting this, but sell
your house, create all thatcapital, move out, move
(12:45):
somewhere else temporarily untilyou can buy a new house and
then pay for another move intothat house.
You know that's the otheroption.
You know it's a possibility.
Is it the easiest and cheapest?
Probably not, you know.
Is it the absolute safest?
Probably because you have allyour numbers up front.
But you know this is that'svery difficult for people.
(13:06):
I know when I had two youngkids and animals, that would not
be my choice.
To move out, sell, you know,find a place to rent for a short
period of time and then gothrough all of that.
That would not be my option.
Speaker 1 (13:18):
No, I completely agree.
I, ironically, I hate moving, Ihate the packing, I hate the
unpacking, I hate the packing, Ihate the unpacking, I hate the
whole process.
It is like my least favoritething to do.
And with having, you know, fourteenagers and two dogs like
theirs, there's absolutely noway that that would be the
option that I would choose.
But I love that you did.
(13:40):
You know, talk about that andyou know, for anyone that's
listening if you haven'tlistened to any of the previous
episodes of anything that I'vedone talking about this,
whenever you are talking about acontingency, you obviously want
to have as few contingencies aspossible and all that means is
just a contingency is there is astipulation that has to be met
(14:06):
before you can actually close onsomething.
So you know, when he says thatcontingency, that just means
that you're like contingent onbuying that home but you have to
sell your house.
You know, first to do,especially being in a seller's
market, is you can list yourhouse with the contingency of
(14:29):
you need to find a home.
So then, whenever someone, whena buyer comes in and it's all
transparent, but they come inand they're like, yep, we're
totally fine with waiting, andthen, but again you're kind of
waiting and you're playing thewaiting game and you don't know
when you're actually going toclose, when you're actually
going to be able to move.
(14:51):
So again all the stars have toalign for everyone to be okay
with it.
And then you've got a situationlike I'm in right now with.
I've got a client that's incontract to purchase something
We've already had to push backclosing.
That seller is in a contingentcontract to purchase something
We've already had to push backclosing.
That seller is in a contingentcontract to purchase her next
home.
So they're waiting on us andthose people are contingent on
(15:13):
purchasing their next home.
So there's like a three dominothing that I'm only in charge of
one part of it but I know thatthere's all these other pieces
and parts.
So it can get very, very stickywhen it comes to that and a lot
of times you know there aren'tpeople that are able to do that.
(15:35):
So it's nice that you know thatyou I know you've mentioned in
previous episodes that you do adiscovery call.
So I love that.
During the discovery call you'regoing to find out all their
wants, needs and financialsituation and all of that and
then you're going to help kindof create what makes the most
financial sense for them which Ilove, because that's what I try
(15:58):
and do for people too is likehow do we make sure that this
makes financial sense for you?
So I love that you have kind oflike broken that down.
Do you think that with the, youknow, with us going into the
busier market down in Florida,do you think you're going to see
a lot more of these like bridgestyle loans, like do you write
a ton of these types of things?
Speaker 2 (16:20):
So I did.
We did three of them just bangbang, bang bang right at the
beginning of this summer sellingseason.
You know, when we got into that, you know end of the school
year, right there at the youknow that early June timeframe,
that, and they all fit thiscategory of like.
You know they wanted to moveright away.
(16:42):
They, you know they knew theycould sell, but they wanted this
house.
This is what we need.
You know we need to move onthis very quickly and you know
this is so.
Yes, I think that, as you know,as things kind of progress, I
think we are going to see someof these, and some of it is
awareness.
You know you can walk into abank and talk to a bank loan
(17:04):
officer and I'm talking aboutthe big banks.
You know you go walk intowhatever name brand you want to
say you know, is the loanofficer going to be able to do
this for you?
Are they even going to be awareof it?
Probably not.
They're probably going to belike, oh no, those are just
crazy things those brokers doout there that you know we can't
do here and you know they'renot safe.
You can't, you know.
(17:24):
I know I used to work for oneof those big banks that's what
we told people all the timewhere, behind the scenes, we
were jealous, like how are theydoing this?
We want to be able to do thesecool things.
So you know it does exist.
You just have to find somebodywho is a professional that
researches their market.
But the other thing that youcan do is you can kind of do
(17:47):
this as a contingency.
You know, if, if you're not theold way, we did these.
Well, when I, when I wasexplaining, we had to do the
line of credit before you listedthe property for sale, you know
we kind of had to be I don'tknow if deceptive is the right
word, but we weren't necessarilyyou know full disclosure with
the lender.
That was that we were doing theline of credit with of.
You know of that.
And so you know it's like, okay, this is.
(18:09):
You know we're operating, youknow, within the guidelines, but
we're circumventing them to getan end result.
Now we're getting products thatare specifically designed for
this process and so you can say,okay, well, listen, I've got my
bridge loan pre-approved andset up, I've got my property
(18:34):
listed for sale.
Or I've got my property, youknow, ready to list for sale,
you know I'll make my offer andmaybe make the offer with the
contingency and then if theycome back and say no, we don't
want the contingency, you knowyou speak with your real estate
agent and make sure that youknow, let's say I was like hey,
(18:55):
she can whisper in the ear ofthe listing agent and say, hey,
we can take this contingency offif you really need us to.
We want to put it on there tobegin with, but we can remove it
very easily.
We are, we have a plan B inplace.
So maybe using it as a stack ofthis is plan A.
But if the seller doesn't wantthat and if the seller's in the
(19:17):
need of the money right away andthey're willing to give you a
better deal, if you can signright here, right now, without a
contingency, great, we'll takethat better deal.
And then you take the bridgeloan so that you're the one that
has the flexibility.
So you know you always want tokind of just discuss those you
know and discuss with thelisting side what their goals
are, what your goals are, and ifyou've got this already worked
(19:40):
out as a contingency, as a planB, you know, I think that's
where we're going to see it is.
You know I'm meeting with aclient tonight that this is what
we're going to propose.
You know the listing agent hasalready spoken with them about
listing their property.
The listing agent is also goingto help them with the purchase
of their property.
And this is you know, and I'mgoing to meet with them and
(20:03):
we're going to say this is anoption, you know.
So they can go looking, evenstarting this weekend, knowing
that the sooner they pick it,that if they go under contract,
the more likely we are to do thebridge loan process.
But as they get further and getmore organized and you know
maybe they don't need it, youknow, maybe they find a scenario
where it's not necessaryFantastic, that's good for
(20:26):
everyone, because the reality is, no matter what we do, we're
probably going to be refinancingyou in a year anyway.
That's a whole otherconversation.
But anything you do right now,any closing you do right now,
absolutely do it because you'regoing to get a better price on
the house right now than you area year from now, and then I can
get you a lower rate a yearfrom now.
So it doesn't really matterwhat type of loan you get into
(20:46):
right now.
You're probably going to berefinancing it in the relatively
near future anyway.
Speaker 1 (20:51):
Yes, well, and I love that, and I love that you
brought up that point, becausethat was going to be.
My next question is if someonegoes down this path of talking
to you and you know you have thediscovery call and you're like,
yep, we can make this happenand make this happen, unless
they kind of pull the trigger onthat and say, yes, we want to
(21:12):
do it, it's not actually,they're not actually going to
have to pay for it unless theyhave to use it.
So at least they would have thatin their toolbox and know, hey,
I can do this if I need to, andI love your example of you know
, let's make an offer and let'smake it contingent on selling
your house and if, for whateverreason you know, let's say we
(21:33):
get into multiple offers orwhatever, then you know cool,
you know what.
We can actually take that offand we've got another way.
It may still work out to whereyou don't even have to use that
bridge loan because you're goingto list your house and you may
end up selling it before or likeright after.
I mean, there's so manydifferent things that come into
play.
Absolutely, yeah, so I lovethat you kind of brought that up
(21:55):
.
Speaker 2 (21:56):
Yeah, and let me reiterate here from that
conversation, or from that piecethe loan on your existing home,
the pulling out of that money,the pulling out of that equity,
does not happen until three daysbefore the closing of your new
(22:17):
purchase home.
You know, we don't do that loan.
We set it up, we pre-qualify it, we pre-approve it, you know
those types of steps.
But the actual closing date forthat refinance is tied to, and
the reason it's three daysbefore is because there's always
a three-day right of rescissionwhen you do a cash out
refinance and we have to forthose funds to be released.
(22:39):
So we close three days prior sothat those funds are available
three days later on your closingprior, so that those funds are
available three days later onyour closing.
So you could, you know, ifyou've got a long closing date,
even with a you know, a bridgeloan, this bridge loan procedure
in place, you could still tryto sell your house beforehand
and still try to sell it, youknow, that morning, in the sense
(23:00):
of you know, closing themorning of the purchase and then
and then skip out of the bridgeloan process and just go back
to a more conventional, you know, transfer of proceeds on the
day of closing.
You know you absolutely havethat flexibility, but this is
about having options and this isabout understanding of you know
what do you have to do to makeyour offer the most attractive.
(23:23):
You know, and, as you wereexplaining, the less
contingencies on your offer, themore attractive your offer is,
to the point that maybe you geta better price, Maybe you don't
get into negotiation for higherprice If there's five offers and
all of them have contingencies.
Again, most of the loans rightnow are primaries.
(23:45):
You know people are buyingtheir primary houses, so a lot
of people that are buying havecontingencies and if all five
offers have contingencies andyou're the one and only offer
that can take that away, youmight get the best price.
Speaker 1 (23:59):
Yeah, exactly.
Well, and what I've done beforeis in a competitive situation
is I've submitted an offer and Isaid that we were contingent on
selling the house with thelisting agent.
(24:20):
I've done this from the listingagent side and also from the
buy side.
But there's language that wecan put in there that, hey,
we're in contract and you canlist it as contingent escape,
and so what that means isthere's verbiage written in
there that protects everybody.
But there's verbiage written inthere that if the seller can
(24:43):
continue to have showings, theseller can continue to accept
offers even though you'realready in contract.
They can continue to get those.
If they get something that isbetter than the offer that you
have with no home salecontingency, they can come back
to you and you have 48 hours toremove that contingency and meet
(25:04):
or beat that offer to stay incontract.
Now it's a lot of moving partsand there's a lot of what-ifs
and there's a lot of gambling inthat, but there is always that.
So if you knew you had in yourtoolbox that you could pull out
and do this bridge loan, then itis going to give less risk for
(25:28):
the buyer to say, sure, that'sfine, go ahead and continue to
take offers.
And then I've got 48 hours, andso what's going to happen is,
you know, if I haven't alreadysold my house, I'm going to, you
know, I'm going to give Nathana call and I'm going to tell him
hey, I'm going to need to goahead and do this, and then you
just remove that.
You still have all the optionsof selling your house.
(25:49):
You may get a cash offer andsomeone's like I can sell, I can
buy it in seven days, cool.
So then they buy it.
Then you already have the money.
You don't even have to use thebridge loan.
So there's so many differentoptions and creative ways to do
this.
So I love that.
You, you know, you kind ofbrought that up that you know,
even though you have thisdiscussion, even though you've,
(26:10):
you know, done all of thepaperwork short of doing the
final signature paperwork, youstill can quote, unquote, like,
back out of it without being,you know, penalized.
Speaker 2 (26:22):
And, but you gotta be working with a good loan
officer.
You really do.
You know penalized and, but yougot to be working with a good
loan officer.
You really do.
You know because you're talkingabout changing programs,
changing plans.
You know somebody who's whoseoffice has the bandwidth to you
know again, not just be ordertakers.
You know, if you're a loanofficer, ask if you want fries
with that.
When you finish telling themwhat you want, go find another
(26:43):
loan officer.
You know someone who canexplain and go into extreme
detail, because you've reallygot to be working with a good
lending partner.
You know an advisor, someonewho you can trust, someone who
you can work with, who can makeyou know these types of things,
because you are, in a sense, themore options you have, the more
complicated things get.
In a sense, the more optionsyou have, the more complicated
things get.
Speaker 1 (27:04):
That's always the case.
Speaker 2 (27:05):
You know, the easiest clients I work with are the
ones that they have one loanoption.
This is it.
This is the only thing I can dofor you.
There are no other options.
Take it or leave it.
You know I don't like those.
You know situations.
I hate presenting that to aclient, but those are the
(27:26):
easiest ones to work with,because it's either this or
nothing.
When we're talking about this,we're talking about putting in
layers to the onion, and soyou've got to be able to be
flexible with this.
But it gives you again.
It's all about making youroffer more attractive so that
you get the house that you wantat a better price, and if you
and if we can also make iteasier in the steps.
(27:48):
You know, because if all ofthat happens and you sell, then
you still have the chaos oftrying to do this all in one day
.
You know that by itself isenough for some people to want
to do it this way.
You know of just having a littlebit of overlap.
You know like, hey, I want toown both houses for a month just
so I can go in and paint and dothis in my new house before I
(28:09):
move into it, and then I can sayyou know that in itself is a
value.
You know that in itself isworth something.
But again, speak with your loanofficer.
Make sure your loan officer andyour real estate agent are
working together as a team, youknow, and they can make things
like this happen for you.
Speaker 1 (28:26):
Yeah, I love that and that is so true.
You know, I always tell peopleif you're asking a question and
you're feeling like you're notgetting the answer and you've
maybe asked it multipledifferent ways and you're still
not getting your questionsanswered it might be time to
interview another lender, andthat's okay.
You know it might be time tointerview another lender, and
(28:48):
that's okay.
You know it's okay to shoparound, just like you know I may
not be everybody's cup of tea,for you know, as a realtor,
that's fine.
Please shop around, because Iwant you to feel comfortable and
I only want to work with peoplethat want to work with me.
That you know, trust me andtrust what I'm telling them, and
you know.
And it should be the same withyour lender.
Speaker 2 (29:05):
Absolutely.
Speaker 1 (29:06):
Yeah, I love it.
Well, Nathan, thank you so muchfor joining us today.
Again, I know you have a verybusy schedule, so I love that.
You did such a great job atexplaining bridge loans,
explaining that there are all ofthese options and making sure
that people are well-educated.
So thank you.
Speaker 2 (29:26):
My pleasure.
It's always a pleasure to joinyou, to help you and your
clients.
We enjoy it and appreciate itvery much.
Thank you so much.
Speaker 1 (29:33):
Yeah, absolutely, and , as always, I will have all of
Nathan's information in the shownotes.
So definitely make sure you gothere, follow his socials, but
also, you know, make sure thatyou're kind of reaching out and
asking all of the questions.
There is never a fee for adiscovery call for either of us,
(29:54):
so feel free to reach out toeither of us.
But thank you for listeningthis week and thanks for joining
us on come to find out.
Please make sure that you areleaving a review, because
feedback is the greatest giftthat you can give me.
Also, make sure that you'resharing this, because that is
the greatest compliment that youcan give Nathan and myself.
And also make sure you'refollowing the show so you never
(30:15):
miss an episode.
Thanks so much and we'll seeyou next time.
On come to find out.
Hi and welcome to this week's episode of Come to
Find Out.
This week, we are with NathanLindley with Gold Star Mortgage,
and if you've been listening atall, you know that he's
recorded a few other episodeswith me, so it's been so nice of
him to take so much time out ofhis busy schedule to help
(00:23):
educate us.
But Nathan and his team arelocated in Florida to take so
much time out of his busyschedule to help educate us, but
Nathan and his team are locatedin Florida.
As you all know that I amlicensed here in Ohio and in
Florida, so I really wanted tomake sure that I'm getting some
good information out there forpeople that are looking to buy
or sell in the Florida market,as well as getting information
from Nathan so that you canunderstand that if you're
working with market, as well asyou know, getting information
(00:44):
from Nathan so that you canunderstand that if you're
working with him, he is very,very knowledgeable and he's
going to take really good careof you.
So, nathan, thank you, yeah,thank you, yeah, absolutely so,
today I really wanted to talkabout bridge loans and you know,
I feel like I feel like a lotof people you know hear that
(01:05):
word bridge or recast, or somepeople call it the blanket loan,
whatever you want to call it.
But I think that with ratescoming down, more buyers getting
back into the market, which isgoing to incentivize more people
that were already going to haveto sell.
Now they're like oh gosh, now'sthe time.
(01:26):
But they're trying to figureout does it make sense for me to
buy and then sell, or do I needto sell first and then buy?
Should I do a contingent on ahome sale, end the contract,
things like that?
So all of those things become,you know, less options as the
market continues to get, youknow, crazier.
(01:47):
So I would love for you to justkind of explain, you know
bridge loan and how you feelthat that you know helps people
to be more competitive and youknow, and just kind of give us
some insight.
Speaker 2 (02:01):
So absolutely, and let's start at a real high level
and you know, define a bridgeloan.
So a bridge loan is takingequity in your existing
residence and somehow using itto purchase your next home, your
(02:25):
next home.
And the reason you would dothat?
There's a couple reasons youwould do that.
The benefits of doing thisprocess of somehow getting your
equity and transferring it tothe purchase of your new home
without selling first, is numberone.
It allows you to purchasewithout a sales contingency and
on the realty side, that'sgolden for both buyers and
sellers.
It makes it much easier to sellthe property to somebody who
(02:47):
doesn't have and accept an offerthat doesn't have a, you know,
a contingency on another sale,so that you don't end up with
stacked transactions.
It also can affect what you canexpect to get from the sale of
your home.
You know, if you're under thegun of like well, I'm under
contract to buy this house in 45days and I just listed mine,
(03:09):
you pretty much have to takewhatever offer you get in the
first five to 10 days.
You know, like you don't havetime to mess around.
You better be just taking thatfirst offer that you get and you
maybe you know, maybe it'sdifficult to stage your house.
I mean, if you've got threekids, five pets and have been a
hoarder for the past six years,maybe your house doesn't show as
well.
You know, maybe your housewould show a lot better if you
(03:32):
move out, and you know.
So those are the reasons toconsider something like this.
You know, those are the two bigreasons is, you know, better
negotiating power because youdon't have a sales contingency,
and better listing power becauseyou're not under a time crunch
gun of I've got to take thefirst offer that comes and
(03:53):
potentially, you know, able tosell for more.
Again, talk to your real estateprofessional or will help you
with that of.
You know whether or not thatmakes sense and what those
numbers might look like.
But so that's what we'retalking about here is, okay, how
can I take?
You know I own this house andlet's make up some big numbers
here.
Nice, easy numbers.
Remember, we've got a housethat's worth 500 and we owe 250
(04:16):
on it.
Okay, and I want to buy a housefor a million and I want to,
you know, have a $500,000 loanbecause that's how much equity I
have there.
So make that happen for me,great.
Well, the first step.
The way that we've done this fora long time is we would start
with your house and we would doa line of credit.
(04:39):
Okay, now this is kind oftricky because people that do
lines of credit don't reallylike to do lines of credit for
houses that are going to be sold.
So we try to do that before theproperty is listed for sale.
There are other options.
Now I actually have a companythat does a line of credit that
doesn't care if the property islisted for sale, but we do that
(05:00):
line of credit and we get Xamount of equity out of that.
So you know, if it's 500,000,we'll lend you against four.
You know 400.
Of that you owe 250.
So you're walking away with$150,000 of equity.
We use that for the downpayment and closing costs on the
new home.
(05:21):
And then one of the tricks thatI do with my clients is then
I'll put in another secondmortgage and then we'll do a
$500,000 first mortgage.
So you end up with the firstmortgage that you want, a second
mortgage on your new home thatwill get paid off when you sell
the existing home, and a secondmortgage on your existing home
(05:42):
and a first mortgage.
You got four mortgages.
You better have some income tobe able to qualify for those
four mortgages.
So over the past 10 years, thathas been the normal way of
doing a bridge loan.
You better be flush with cashto be able to handle those
payments.
Again, we work in somestrategies of owning and paying
(06:05):
for mortgages.
Yes, you have freedom andflexibility in how fast you sell
the property, but you don'twant to be carrying four
mortgages for that long either,so you want to make sure that
you're staging things and havingit ready to go pretty quickly.
Okay, so that's where we'vebeen over the past five, six,
(06:26):
seven years of how we do bridgeloans.
It lowers the stress in thesense of you're not trying to
buy and sell on the same day.
It moves over there, butthere's a carrying cost for
owning two properties for theperiod of time and there's the
stress of being able to handlethose payments.
Time and there's the stress ofbeing able to handle those
(06:48):
payments.
Great.
Now, in the past 18 months, twoor three products are coming
online.
That changed this a little bit.
We still go to the first house.
Now what we're going to do iswe're going to do a cash out
refinance.
We're going to pay off theexisting loan and we're going to
do is we're going to do a cashout refinance, okay, we're going
to pay off the existing loanand we're going to take 70, 75%
(07:09):
of the value of that property.
We're going to pay off the oldloan and we're going to get that
lump of cash.
We're going to move that moneyover, use it for the down
payment and closing costs of thenew loan or the new purchase
property.
Okay, that all sounds the same,but here's what's cool with
these new products.
With this new product, thatloan that you just took out on
(07:29):
your primary residence has nopayment.
The interest accrues from theday you close, which is three
days before your closing of yournew property, until you sell it
.
And you have a year to sell it.
Okay, so you can go.
(07:50):
You know again, you want tohave it listed and be ready to
sell it quickly, stage or assoon as you move out, all those
things.
But there's no paymentassociated with that property
and the interest on the loan isgoing to accrue and when you
sell it, you're going to paythat lump sum interest off.
That's the same mechanism thata reverse mortgage uses.
(08:12):
This is not a reverse mortgage,don't misunderstand me, but
it's the same mechanism of justpaying the accrual and there's.
So this would be a one yearballoon with no payment mortgage
that you do a refinance withand then over here now we've
used that money to have a downpayment on enclosing costs for
(08:36):
our new house.
Now we're probably going to dothis at an $800,000 mortgage
because we're going to use thatmoney for a 20% down payment and
the interest rate on this loanhas to be a little higher.
It's like, well, I'll just getthat with another lender.
No, no, no.
This product works.
The same lender has to do bothof them.
So you pay a little bit higherrate on this loan, which is okay
(08:59):
because we're in a decliningrate environment.
We know what we can do withthat rate in the very near
future.
We can refinance and get alower rate.
So in this house we start with alittle bit higher of a loan, we
start with a little bit higherof an interest rate, but we're
not making two payments.
We're not on both houses here,and so while we have this one
(09:21):
once, we sell this one now we'vegot the lump sum from the sale.
This loan has to stick aroundfor eight months.
The second loan has to stickaround for eight months and
after that eight-month timeframethen we do a refinance to
market rates.
Eight months from now, ratesare going to be lower than they
are right now.
I don't know how much, butthey're going to be lower.
So we're going to be getting amarket rate, a future market
(09:43):
rate, eight months from now, andwe can use that capital from
the sale to pay down the loan towhatever balance we want.
Or, if you know again, you talkwith your loan officer, you come
up with a strategy how you wantto use that capital.
You invest it someplace else,do you buy the loan down?
You know whatever you need todo, but the benefits being here
(10:04):
that you don't.
You're not in this situationwhere you have to both A qualify
for and, b be able tofinancially survive making three
or four mortgage payments.
You're using the sale of thehouse to pay for the interest
during the time of it and thenyou're being able to leverage
into that.
(10:24):
Is this the best case for you?
It depends.
It depends on your situation,it depends on your, on what your
goals are.
You know, is this the cheapestoption?
Absolutely not.
The cheapest option is going tobe to sell it in the morning
and buy in the afternoon andlive through that, through the
craziness and chaos, and hopeyou get the best you can.
That's absolutely going to beyour cheapest option because
(10:47):
you're not using somebody else'smoney for a period of time.
But for lots of scenarios andlots of situations especially if
we get really competitive withthe offers and buying again,
where you're coming in with acontingency offer and you keep
getting declined because thecontingency offer keeps getting,
you know, turned down thismight be a solution for you.
Speaker 1 (11:09):
Yeah, no, I love that and I love the way that you
really explained it in such agreat way.
You know, for anyone that'slistening to this, this will
also be.
You know, it'll be on myYouTube channel, also called
Come to Find out.
So if you want to see him, um,his visualizations with his
hands he's a hand talker justlike me Um, but I love that, uh,
(11:31):
that you explained it with.
You know, I'm always trying tolike, okay, over here, we've got
this, and then we're going togo over here and we've got this.
So I love that you explained itthat way, Thank you.
Speaker 2 (11:41):
Yes, and it's a neat product.
And there's that one, there'sanother one that does something
very similar, that gives you athree month window to be able to
sell your property.
There's a couple more of thesetypes of products that are
coming out, and when you seeproducts expanding and
(12:01):
developing, it's because there'sa need.
You know, it's because there'ssomebody needs this product.
And so the non-qualifiedmortgage.
You know, arena is coming upwith solutions, you know, and
this is their answer to thatsolution of how do I buy without
the chaos of trying to sell?
(12:23):
Or how do I buy when all of myoffers with the sales
contingency keep gettingdeclined?
Or how do I buy without sellingand then renting for you know
who knows how long?
you know, and paying for twomoves.
I mean that's the other way.
You could do this Again, I'mnot suggesting this, but sell
your house, create all thatcapital, move out, move
(12:45):
somewhere else temporarily untilyou can buy a new house and
then pay for another move intothat house.
You know that's the otheroption.
You know it's a possibility.
Is it the easiest and cheapest?
Probably not, you know.
Is it the absolute safest?
Probably because you have allyour numbers up front.
But you know this is that'svery difficult for people.
(13:06):
I know when I had two youngkids and animals, that would not
be my choice.
To move out, sell, you know,find a place to rent for a short
period of time and then gothrough all of that.
That would not be my option.
Speaker 1 (13:18):
No, I completely agree.
I, ironically, I hate moving, Ihate the packing, I hate the
unpacking, I hate the packing, Ihate the unpacking, I hate the
whole process.
It is like my least favoritething to do.
And with having, you know, fourteenagers and two dogs like
theirs, there's absolutely noway that that would be the
option that I would choose.
But I love that you did.
(13:40):
You know, talk about that andyou know, for anyone that's
listening if you haven'tlistened to any of the previous
episodes of anything that I'vedone talking about this,
whenever you are talking about acontingency, you obviously want
to have as few contingencies aspossible and all that means is
just a contingency is there is astipulation that has to be met
(14:06):
before you can actually close onsomething.
So you know, when he says thatcontingency, that just means
that you're like contingent onbuying that home but you have to
sell your house.
You know, first to do,especially being in a seller's
market, is you can list yourhouse with the contingency of
(14:29):
you need to find a home.
So then, whenever someone, whena buyer comes in and it's all
transparent, but they come inand they're like, yep, we're
totally fine with waiting, andthen, but again you're kind of
waiting and you're playing thewaiting game and you don't know
when you're actually going toclose, when you're actually
going to be able to move.
(14:51):
So again all the stars have toalign for everyone to be okay
with it.
And then you've got a situationlike I'm in right now with.
I've got a client that's incontract to purchase something
We've already had to push backclosing.
That seller is in a contingentcontract to purchase something
We've already had to push backclosing.
That seller is in a contingentcontract to purchase her next
home.
So they're waiting on us andthose people are contingent on
(15:13):
purchasing their next home.
So there's like a three dominothing that I'm only in charge of
one part of it but I know thatthere's all these other pieces
and parts.
So it can get very, very stickywhen it comes to that and a lot
of times you know there aren'tpeople that are able to do that.
(15:35):
So it's nice that you know thatyou I know you've mentioned in
previous episodes that you do adiscovery call.
So I love that.
During the discovery call you'regoing to find out all their
wants, needs and financialsituation and all of that and
then you're going to help kindof create what makes the most
financial sense for them which Ilove, because that's what I try
(15:58):
and do for people too is likehow do we make sure that this
makes financial sense for you?
So I love that you have kind oflike broken that down.
Do you think that with the, youknow, with us going into the
busier market down in Florida,do you think you're going to see
a lot more of these like bridgestyle loans, like do you write
a ton of these types of things?
Speaker 2 (16:20):
So I did.
We did three of them just bangbang, bang bang right at the
beginning of this summer sellingseason.
You know, when we got into that, you know end of the school
year, right there at the youknow that early June timeframe,
that, and they all fit thiscategory of like.
You know they wanted to moveright away.
(16:42):
They, you know they knew theycould sell, but they wanted this
house.
This is what we need.
You know we need to move onthis very quickly and you know
this is so.
Yes, I think that, as you know,as things kind of progress, I
think we are going to see someof these, and some of it is
awareness.
You know you can walk into abank and talk to a bank loan
(17:04):
officer and I'm talking aboutthe big banks.
You know you go walk intowhatever name brand you want to
say you know, is the loanofficer going to be able to do
this for you?
Are they even going to be awareof it?
Probably not.
They're probably going to belike, oh no, those are just
crazy things those brokers doout there that you know we can't
do here and you know they'renot safe.
You can't, you know.
(17:24):
I know I used to work for oneof those big banks that's what
we told people all the timewhere, behind the scenes, we
were jealous, like how are theydoing this?
We want to be able to do thesecool things.
So you know it does exist.
You just have to find somebodywho is a professional that
researches their market.
But the other thing that youcan do is you can kind of do
(17:47):
this as a contingency.
You know, if, if you're not theold way, we did these.
Well, when I, when I wasexplaining, we had to do the
line of credit before you listedthe property for sale, you know
we kind of had to be I don'tknow if deceptive is the right
word, but we weren't necessarilyyou know full disclosure with
the lender.
That was that we were doing theline of credit with of.
You know of that.
And so you know it's like, okay, this is.
(18:09):
You know we're operating, youknow, within the guidelines, but
we're circumventing them to getan end result.
Now we're getting products thatare specifically designed for
this process and so you can say,okay, well, listen, I've got my
bridge loan pre-approved andset up, I've got my property
(18:34):
listed for sale.
Or I've got my property, youknow, ready to list for sale,
you know I'll make my offer andmaybe make the offer with the
contingency and then if theycome back and say no, we don't
want the contingency, you knowyou speak with your real estate
agent and make sure that youknow, let's say I was like hey,
(18:55):
she can whisper in the ear ofthe listing agent and say, hey,
we can take this contingency offif you really need us to.
We want to put it on there tobegin with, but we can remove it
very easily.
We are, we have a plan B inplace.
So maybe using it as a stack ofthis is plan A.
But if the seller doesn't wantthat and if the seller's in the
(19:17):
need of the money right away andthey're willing to give you a
better deal, if you can signright here, right now, without a
contingency, great, we'll takethat better deal.
And then you take the bridgeloan so that you're the one that
has the flexibility.
So you know you always want tokind of just discuss those you
know and discuss with thelisting side what their goals
are, what your goals are, and ifyou've got this already worked
(19:40):
out as a contingency, as a planB, you know, I think that's
where we're going to see it is.
You know I'm meeting with aclient tonight that this is what
we're going to propose.
You know the listing agent hasalready spoken with them about
listing their property.
The listing agent is also goingto help them with the purchase
of their property.
And this is you know, and I'mgoing to meet with them and
(20:03):
we're going to say this is anoption, you know.
So they can go looking, evenstarting this weekend, knowing
that the sooner they pick it,that if they go under contract,
the more likely we are to do thebridge loan process.
But as they get further and getmore organized and you know
maybe they don't need it, youknow, maybe they find a scenario
where it's not necessaryFantastic, that's good for
(20:26):
everyone, because the reality is, no matter what we do, we're
probably going to be refinancingyou in a year anyway.
That's a whole otherconversation.
But anything you do right now,any closing you do right now,
absolutely do it because you'regoing to get a better price on
the house right now than you area year from now, and then I can
get you a lower rate a yearfrom now.
So it doesn't really matterwhat type of loan you get into
(20:46):
right now.
You're probably going to berefinancing it in the relatively
near future anyway.
Speaker 1 (20:51):
Yes, well, and I love that, and I love that you
brought up that point, becausethat was going to be.
My next question is if someonegoes down this path of talking
to you and you know you have thediscovery call and you're like,
yep, we can make this happenand make this happen, unless
they kind of pull the trigger onthat and say, yes, we want to
(21:12):
do it, it's not actually,they're not actually going to
have to pay for it unless theyhave to use it.
So at least they would have thatin their toolbox and know, hey,
I can do this if I need to, andI love your example of you know
, let's make an offer and let'smake it contingent on selling
your house and if, for whateverreason you know, let's say we
(21:33):
get into multiple offers orwhatever, then you know cool,
you know what.
We can actually take that offand we've got another way.
It may still work out to whereyou don't even have to use that
bridge loan because you're goingto list your house and you may
end up selling it before or likeright after.
I mean, there's so manydifferent things that come into
play.
Absolutely, yeah, so I lovethat you kind of brought that up
(21:55):
.
Speaker 2 (21:56):
Yeah, and let me reiterate here from that
conversation, or from that piecethe loan on your existing home,
the pulling out of that money,the pulling out of that equity,
does not happen until three daysbefore the closing of your new
(22:17):
purchase home.
You know, we don't do that loan.
We set it up, we pre-qualify it, we pre-approve it, you know
those types of steps.
But the actual closing date forthat refinance is tied to, and
the reason it's three daysbefore is because there's always
a three-day right of rescissionwhen you do a cash out
refinance and we have to forthose funds to be released.
(22:39):
So we close three days prior sothat those funds are available
three days later on your closingprior, so that those funds are
available three days later onyour closing.
So you could, you know, ifyou've got a long closing date,
even with a you know, a bridgeloan, this bridge loan procedure
in place, you could still tryto sell your house beforehand
and still try to sell it, youknow, that morning, in the sense
(23:00):
of you know, closing themorning of the purchase and then
and then skip out of the bridgeloan process and just go back
to a more conventional, you know, transfer of proceeds on the
day of closing.
You know you absolutely havethat flexibility, but this is
about having options and this isabout understanding of you know
what do you have to do to makeyour offer the most attractive.
(23:23):
You know, and, as you wereexplaining, the less
contingencies on your offer, themore attractive your offer is,
to the point that maybe you geta better price, Maybe you don't
get into negotiation for higherprice If there's five offers and
all of them have contingencies.
Again, most of the loans rightnow are primaries.
(23:45):
You know people are buyingtheir primary houses, so a lot
of people that are buying havecontingencies and if all five
offers have contingencies andyou're the one and only offer
that can take that away, youmight get the best price.
Speaker 1 (23:59):
Yeah, exactly.
Well, and what I've done beforeis in a competitive situation
is I've submitted an offer and Isaid that we were contingent on
selling the house with thelisting agent.
(24:20):
I've done this from the listingagent side and also from the
buy side.
But there's language that wecan put in there that, hey,
we're in contract and you canlist it as contingent escape,
and so what that means isthere's verbiage written in
there that protects everybody.
But there's verbiage written inthere that if the seller can
(24:43):
continue to have showings, theseller can continue to accept
offers even though you'realready in contract.
They can continue to get those.
If they get something that isbetter than the offer that you
have with no home salecontingency, they can come back
to you and you have 48 hours toremove that contingency and meet
(25:04):
or beat that offer to stay incontract.
Now it's a lot of moving partsand there's a lot of what-ifs
and there's a lot of gambling inthat, but there is always that.
So if you knew you had in yourtoolbox that you could pull out
and do this bridge loan, then itis going to give less risk for
(25:28):
the buyer to say, sure, that'sfine, go ahead and continue to
take offers.
And then I've got 48 hours, andso what's going to happen is,
you know, if I haven't alreadysold my house, I'm going to, you
know, I'm going to give Nathana call and I'm going to tell him
hey, I'm going to need to goahead and do this, and then you
just remove that.
You still have all the optionsof selling your house.
(25:49):
You may get a cash offer andsomeone's like I can sell, I can
buy it in seven days, cool.
So then they buy it.
Then you already have the money.
You don't even have to use thebridge loan.
So there's so many differentoptions and creative ways to do
this.
So I love that.
You, you know, you kind ofbrought that up that you know,
even though you have thisdiscussion, even though you've,
(26:10):
you know, done all of thepaperwork short of doing the
final signature paperwork, youstill can quote, unquote, like,
back out of it without being,you know, penalized.
Speaker 2 (26:22):
And, but you gotta be working with a good loan
officer.
You really do.
You know penalized and, but yougot to be working with a good
loan officer.
You really do.
You know because you're talkingabout changing programs,
changing plans.
You know somebody who's whoseoffice has the bandwidth to you
know again, not just be ordertakers.
You know, if you're a loanofficer, ask if you want fries
with that.
When you finish telling themwhat you want, go find another
(26:43):
loan officer.
You know someone who canexplain and go into extreme
detail, because you've reallygot to be working with a good
lending partner.
You know an advisor, someonewho you can trust, someone who
you can work with, who can makeyou know these types of things,
because you are, in a sense, themore options you have, the more
complicated things get.
In a sense, the more optionsyou have, the more complicated
things get.
Speaker 1 (27:04):
That's always the case.
Speaker 2 (27:05):
You know, the easiest clients I work with are the
ones that they have one loanoption.
This is it.
This is the only thing I can dofor you.
There are no other options.
Take it or leave it.
You know I don't like those.
You know situations.
I hate presenting that to aclient, but those are the
(27:26):
easiest ones to work with,because it's either this or
nothing.
When we're talking about this,we're talking about putting in
layers to the onion, and soyou've got to be able to be
flexible with this.
But it gives you again.
It's all about making youroffer more attractive so that
you get the house that you wantat a better price, and if you
and if we can also make iteasier in the steps.
(27:48):
You know, because if all ofthat happens and you sell, then
you still have the chaos oftrying to do this all in one day
.
You know that by itself isenough for some people to want
to do it this way.
You know of just having a littlebit of overlap.
You know like, hey, I want toown both houses for a month just
so I can go in and paint and dothis in my new house before I
(28:09):
move into it, and then I can sayyou know that in itself is a
value.
You know that in itself isworth something.
But again, speak with your loanofficer.
Make sure your loan officer andyour real estate agent are
working together as a team, youknow, and they can make things
like this happen for you.
Speaker 1 (28:26):
Yeah, I love that and that is so true.
You know, I always tell peopleif you're asking a question and
you're feeling like you're notgetting the answer and you've
maybe asked it multipledifferent ways and you're still
not getting your questionsanswered it might be time to
interview another lender, andthat's okay.
You know it might be time tointerview another lender, and
(28:48):
that's okay.
You know it's okay to shoparound, just like you know I may
not be everybody's cup of tea,for you know, as a realtor,
that's fine.
Please shop around, because Iwant you to feel comfortable and
I only want to work with peoplethat want to work with me.
That you know, trust me andtrust what I'm telling them, and
you know.
And it should be the same withyour lender.
Speaker 2 (29:05):
Absolutely.
Speaker 1 (29:06):
Yeah, I love it.
Well, Nathan, thank you so muchfor joining us today.
Again, I know you have a verybusy schedule, so I love that.
You did such a great job atexplaining bridge loans,
explaining that there are all ofthese options and making sure
that people are well-educated.
So thank you.
Speaker 2 (29:26):
My pleasure.
It's always a pleasure to joinyou, to help you and your
clients.
We enjoy it and appreciate itvery much.
Thank you so much.
Speaker 1 (29:33):
Yeah, absolutely, and , as always, I will have all of
Nathan's information in the shownotes.
So definitely make sure you gothere, follow his socials, but
also, you know, make sure thatyou're kind of reaching out and
asking all of the questions.
There is never a fee for adiscovery call for either of us,
(29:54):
so feel free to reach out toeither of us.
But thank you for listeningthis week and thanks for joining
us on come to find out.
Please make sure that you areleaving a review, because
feedback is the greatest giftthat you can give me.
Also, make sure that you'resharing this, because that is
the greatest compliment that youcan give Nathan and myself.
And also make sure you'refollowing the show so you never
(30:15):
miss an episode.
Thanks so much and we'll seeyou next time.
On come to find out.
Popular Podcasts
Bookmarked by Reese's Book Club
Welcome to Bookmarked by Reese’s Book Club — the podcast where great stories, bold women, and irresistible conversations collide! Hosted by award-winning journalist Danielle Robay, each week new episodes balance thoughtful literary insight with the fervor of buzzy book trends, pop culture and more. Bookmarked brings together celebrities, tastemakers, influencers and authors from Reese's Book Club and beyond to share stories that transcend the page. Pull up a chair. You’re not just listening — you’re part of the conversation.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!