T: (612) 327-8303 E: [email protected]

Solutions For Down-sizers

Unlock your equity for your next move. Fast, Simple, and Affordable.

WHEN YOU ARE READY FOR SOMETHING SMALLER USE YOUR EQUITY TO MOVE

Relieve the stress of selling your home without taking on another mortgage

By using your current home’s existing equity, Grove Bank's Bridge Loan Program makes downsizing from your current home simple and cost-effective: We help you leverage the equity you’ve earned and eliminate the need to take out a mortgage on your new home. Buying a home before you sell allows down-sizers to position their home to sell for more. You pay Grove Bank to apply and process the loan and nothing until you sell your home at which there is a small loan fee and interest on only the days you needed the loan. 

HOW IT WORKS

If you close on a new home first…

  1. Pay off your existing mortgage with a Down-sizer loan with a 1-year duration, up to 80% of the existing home value.
  2. Use available equity for payment on your new home.
  3. When your house sells, pay off the Down-sizer loan with the proceeds. You will now be mortgage free.

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Grove Bank

Bridge Loans for Down-Sizers

This communication is provided to you for informational purposes only and should not be relied upon by you. The owner of this site is not a mortgage lender and you should contact Grove Bank directly to learn more about its mortgage products and your eligibility for such products.

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T: (612) 327-8303

E: [email protected]