Bridge Loans

Why a Simple Bridge* Loan with Windsor?

  • Give your clients breathing room to sell at the right price point while moving into their dream homes sooner.
  • Bridge loan proceeds help finance the new property, helping alleviate the stress to sell.
  • The third-party agent is available to provide the appraised value (CMA report) to increase the amount a borrower can lend towards a bridge loan.
  • No unnecessary back and forth. Hassle-free communication on your end because both loans are completed by Windsor.

Currently, Windsor offers bridge loans in 31 of the 50 states.

The Simple Bridge* with Windsor

This is our home equity bridge loan program. It provides borrowers who are working with Windsor Mortgage to obtain a purchase loan the opportunity to access the equity from their existing primary residence to fund the down payment on a new primary residence.

Program Highlights

$250,000 maximum loan amount

  • $1,000 origination fee (or 1$ if loan is less than $100,000)
  • 6-month balloon with interest-only monthly payments
  • Option to renew an additional 6 months for a $2,000 fee**
  • 85% maximum combined loan-to-value (CLTV) ratio
  • Associated closing costs can be rolled into the bridge and paid out of loan proceeds

$250,001-$500,000 maximum loan amount****

  • $2,000 origination fee
  • Maximum CLTV of 75%
  • 6-month balloon with interest-only monthly payments
  • Option to renew an additional 6 months for a $2,000 fee**
  • Associated closing costs can be rolled into the bridge and paid out of loan proceeds

Logistics

  • The bridge loan must be attached to the borrower's current primary residence and must be either a single-family home, a condo, or a townhome. No other property types are allowed.
  • The loan will be originated by a Plains Commerce Bank in-house mortgage banker
  • A credit score of 680 or above
  • Max debt-to-income (DTI) ratio of 45%; must include payments for departing residence, bridge loan, and new residence
  • Desktop appraisal with an exterior inspection will be obtained to value the subject property****
  • Only requires a title search (unless the bridge loan will be in a 1st lien position) closed with a mobile notary
  • Rate locks are valid for 30 days. Rates will not be extended or re-locked. The expired rate will be determined by the current market rate at the time of the final closing date.

How Windsor Makes It Easy:

  1. Submit the future primary residence purchase loan through our Third-Party Origination Portal: Windsor Direct.
  2. Fill out the Bridge Loan Info Application (link .pdf) and email it to your Account Manager
  3. Your Account Manager will set up and request the bridge loan for you. Your Account Manager will reach out if additional documents are needed.
  4. Your Account Manager will reach out to schedule a notary at the borrower’s current primary residence. Once signed, the bridge loan is closed.
  5. Funds will be sent to the Title company. Recission applies.

Commonly Asked Questions

Bridge Loans bridge the gap during times when financing is needed, but not yet available. If you have borrowers who are looking to buy a new home before their current one is sold, a Windsor Simple Bridge* loan is just what they need!

Windsor Simple Bridge* Loans are available to brokers/correspondents who are also working with Windsor to obtain a purchase loan for the future primary residence. Borrowers must also meet the credit requirement of 680 or above, as well as the DTI ratio.

No, it doesn’t. We’ll work with you to find a custom solution for your borrower.

Reach out to your Account Executive to inquire about your scenario. Don’t have an AE yet? No worries, let’s get you started today!

Windsor Simple Bridge* Loans are available in two different pricing categories. See the Program Highlights above for details.

For loans at $400,000 or more, the borrower will have to pay for a full 3rd party appraisal and allow for more time needed for the process.

*Bridge loans are not available in all states. Other restrictions and limitations may apply, and rates are subject to change. Rates, terms, and conditions along with underwriting are subject to change. All credit and loan programs are subject to credit approval.
**Renewal must be completed prior to maturity.
***Exceptions may be approved on case-by-case basis – contact your Account Executive to inquire on a specific scenario.
****For loans at $400,000 or more, the borrower will have to pay for a full 3rd party appraisal and allow for more time needed for the process.

Learn More

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