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 Conforming Loan amounts up to $766,550 | FHA Loan Limits are specific to each Florida County
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Florida Bridge Loan Mortgage Requirements

Bridge Loan Mortgage Requirements

The pivotal factor influencing eligibility for a bridge loan centers around the current property used as collateral. Typically, a professional appraiser conducts an appraisal to determine the property’s value.

The assessed value of the property plays a critical role, as it directly impacts the potential loan amount. A higher property value opens the door to a larger loan, offering borrowers an efficient means to address their immediate financial needs.

In contrast to conventional loans, bridge loans diverge from scrutinizing the borrower’s personal financial details. Rather than delving into credit score, credit history, debt-to-income ratio, income, or employment status, the bridge loan focuses exclusively on the collateral value.

The foundational principle guiding bridge loan requirements underscores their collateral-centric nature, underscoring the paramount importance of the property in the qualification process.

Consequently, individuals facing challenges meeting the criteria for traditional loans due to personal financial circumstances often discover bridge loans as an appealing and viable alternative. This unique characteristic positions bridge loans as a flexible solution in numerous scenarios demanding prompt access to funds.

Florida Bridge Loan Requirements:

  • Minimum credit score 680
  • Max debt to income ratio is 50%
  • Can qualify on traditional W2 income, retirement income, 12 / 24 month of Bank Statements, or assets as income
  • The home being departed must be listed on MLS; the listing agreement will be required
  • The home being departed cannot be rented; we do not accept any rental income to qualify
  • No rural properties
  • 1 balloon payment to payoff bridge loan within 12-months for primary homes
  • 1 balloon payment to payoff bridge loan within 6-months for second home / investment properties
  • Bridge loan must be in the first lien position on new property
  • Loan amounts from $200,000
  • Bridge Loan financing only available in conjunction with financing on the new purchase home. 

Florida Bridge Loan Mortgage Benefits

  • Speed: Quick to secure, helping you act fast in competitive markets.
  • Flexibility: bridge loans allow you to make payments on your schedule if needed.
  • Convenience: You can buy a new home without having to sell your existing one first.
  • No Contingencies: No need to add a contingency of selling your current home in order to purchase the new home – Seller prefer No Contingencies
  • Condo Properties allowed
  • Non-Warrantable Condo Properties allowed

When your ready to get started on your Bridge Loan Mortgage, we are Florida Bridge Loan Mortgage experts to guide you through the entire process, the first step is getting you pre-approved. You can apply online or you prefer to speak with one of our Bridge Loan Mortgage Experts, we would be happy to speak with you. Call or text us at 407-955-4575.

Get Pre-Approved by Florida Bridge Loan Mortgage Experts

Florida Bridge Loan Mortgage Requirements