Fast Move Loan
If you’re relying on proceeds from the sale of your current home for the down payment and closing costs on your new home, the Fast Move Loan may be the perfect solution. ENB will loan up to 85% of the equity in the home you’re selling. Affordable, interest-only payments are made until the home is sold (maximum 12-month repayment period). This potentially saves you the hassle of moving twice and allows you to lock in today’s rate for a new mortgage instead of waiting for your current home to sell.
- Up to 85% loan-to-value available when your home is listed with a real estate professional or under agreement
- For-Sale-By-Owner options available with reduced loan-to-value advances available
- Interest-only payments for up to 12 months
- Escrow for taxes and homeowner’s insurance is not required
- Title insurance not required for loan requests under $250,000
- Loans up to $600,000