PALO ALTO, Calif., May 20, 2013 /PRNewswire/ -- Opes Advisors, an innovative wealth management and mortgage banking firm, announces the launch of our new Bridge Loan program. Our new bridge loans were specifically designed to help current homeowners who are looking to purchase a new home before they have sold their current residence.
With Opes Advisors Bridge Loans, a current homeowner can access up to 80% of the equity in their home to help fund the down payment on a new home. This allows our clients to purchase a new home, not contingent on the sale of their current residence. Opes Bridge loans are short-term, fixed-rate, interest-only loans with no monthly payments due and they offer an easy approval process for homeowners.
"At Opes, we are consistently focused on ways to meet the mortgage needs of our clients. Today's sellers' market is making it more difficult for clients to stand out with an attractive offer, in an environment where all cash offers and non-contingent offers are the norm," said Susan McHan, Opes Advisors CEO and president of the mortgage banking division. "Our Opes Bridge Loans can help clients make an attractive offer on a new home that is not contingent on the sale of their current home."
For many homeowners, selling their old home before purchasing their new home may not make sense for their lifestyle or financial situation. Rents, particularly in the Bay Area, can be cost prohibitive – even as a short term solution. Other homeowners want to remain in their current homes through the end of a school year. Our loans help bridge the gap between selling and buying, allowing clients to make a smoother transition between homes.
About Opes Advisors
Opes Advisors is an innovative wealth management and mortgage banking firm dedicated to helping clients make effective choices that support their financial goals. Wealth management clients work with our integrated team of Advisors and receive comprehensive financial planning, investment management, real estate investment advisory services and expertise in real estate financing. As a leading, full-service mortgage bank, we offer a wide range of competitively-priced mortgage programs designed to meet the diverse needs of today's home buyers and real estate investors. Opes Advisors has offices throughout California as well as Eugene, Oregon. Learn more at www.opesadvisors.com.