Bridge Loan Calculator - Does a Good One Exist Online for Free?

A bridge loan is used to smooth the way from one home to the next. There are certain circumstances where you might need one of these loans. Suppose you need to make an emergency relocation and need a new home. The problem is, you haven't yet sold your current home. Another situation might be if you are planning to sell your home but before you do, you find your dream home at an incredible price. In these cases, a bridge loan might be the perfect way to get into your new home before your old one is sold.

The problem with bridge loans is often the term and cost. These loans are short term, usually at around six months. In addition, these loans come with high interest rates. You can expect to pay up to 15 percent on a bridge loan. Bridge loans are less about your credit rating and more about the real estate you own. If you are curious about how much a bridge loan will cost you, try one of the free calculators you can find online. There are a variety of them on the Internet. When using one of these calculators, you will need to specify some information, including the purchase price, cash available, amount of first mortgage, first mortgage interest rate, first mortgage term, second interest rate and more. Then, when you submit you will be given a result.

While free bridge loan calculators aren't always going to be perfectly accurate, they can give you a good idea about the costs associated with a bridge loan. Check out the following free bridge loan calculator:

http://www.pine-grove.com/Web%20Calculators/bridge%20loan.htm

This calculator is free to use and provides a fairly accurate result based on the information you put in. You may be able to find additional free bridge loan calculators by performing a search engine query using related keywords. In addition, you will find other calculators like first and second mortgage calculators.

For more on Bridge Mortgage Loans, including many basics like "What is a Bridge Loan" and many more articles about bridge mortgages, visit the Borrower's Guide today at http://www.BorrowersGuide.com/

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