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Blend Wrap Mortgage
Purchase your new home prior to the sale of your existing home with a Blend Wrap Mortgage from Monroe Bank & Trust. You’ll get competitive interest rates and repayment terms with the convenience of just one loan and only a single loan closing.
Features and Benefits
- Convenience of just one payment – with only one loan closing.
- Use the equity in your current home as the source of your down payment – even before it’s sold.
- Interest-only payments keep monthly payments low for up to nine months, while your current residence is up for sale.
- Competitive interest rates and repayment terms.
- No contingency on the purchase agreement.
- Financing options available with no Primary Mortgage Insurance (PMI)*.
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Buy It Before You Sell It
An MBT Blend Wrap Mortgage – our unique take on the traditional bridge loan – provides you with a creative way to purchase your new home before the sale of your existing home. And you can do it with little or no cash money down by using the equity built in your current home as your down payment.
You’ll get competitive interest rates and repayment terms plus the convenience of just one loan, while keeping your monthly loan payments low for up to nine months through interest-only payments.*
Let us be the connection to your new dream home. Call your MBTeam banker to learn about our unique Blend Wrap Mortgage at 734-242-2204.
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*Mortgage Services provided by MBT Credit Company, Inc. a subsidiary of Monroe Bank & Trust. Ask any MBT mortgage expert about financing options. |
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