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#2238317 - 06/18/20 06:48 PM Temporary or Short Term?
Dodge Offline
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Joined: Mar 2010
Posts: 239
A loan request to purchase a house from a customer who is moving to our area from out of state. They requested a six month single pay or interest only to purchase the home. They are requesting this short term financing loan so they can get moved and time to refinance the loan to secondary market.

Would you consider this short term or temporary? It will be replaced by permanent financing but with a different institution.

I'm overthinking this one because it does not fit the normal definition of a bridge loan.

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#2238322 - 06/18/20 07:25 PM Re: Temporary or Short Term? Dodge
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,768
Bloomington, IN
It will be replaced by permanent financing but with a different institution.

Temporary
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The opinions expressed are mine and they are not to be taken as legal advice.

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