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Town and Country Bank

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Bridge Loans

You found your new dream home. There’s just one problem: you haven’t sold your old home yet! Many homeowners find themselves in this sticky situation. How do I afford a new mortgage when I still have my old home loan? The answer is a mortgage bridge loan. With a Bridge Loan, you can make the down payment on your new loan and move into your new home. Once you’ve made the transition to your new home, you can focus on staging and selling your old house. Town and Country Bank and Peoples Prosperity Bank are here to help you "bridge the gap" from listing to relaxing.

Make the transition to your new home easy with a Bridge Loan. Apply online today or visit one of our locations to receive personalized assistance from our local lending team!

What is a Bridge Loan?

Bridge Loans are short-term loans with terms of nine months or less. Home bridge loan lenders help to cover the gap between two long-term financing options, such as two mortgages. Bridge loans are paid off in a lump sum at the end of the financing term.

Benefits of a Residential Bridge Loan?

Anytime you require short-term financing for a residential project, you need a bank that offers Bridge Loans. Town and Country Bank and Peoples Prosperity Bank may be able to help. Some examples of situations that benefit from Bridge Loans include:

  • Renovating and flipping a home
  • Financing the down payment for a new house by creating a second mortgage on your old home
  • Rehabilitation of a multi-unit dwelling
  • Paying off your current mortgage and funding the down payment for a new home

Why Choose Us?

Town and Country Banc Mortgage Services is consistently the top housing lender in our market. We close most home purchase mortgages in 30 days or less. Locally owned and operated, we treat our clients like family. Benefits of a Bridge Loan from Town and Country Bank and Peoples Prosperity Bank include:

  • Competitive rates to upgrade your home
  • Financing for existing mortgage payments and new down payment
  • Interest-only payments available
  • Terms up to 9 months
  • No prepayment penalty

We Can Help

Town and Country Bank and Peoples Prosperity Bank serve and empower local communities in Central Illinois and Metro East, one person at a time. Request a consultation with our local mortgage team or visit a local office today. Our friendly and attentive staff welcomes you to any of our branch locations in Springfield, Buffalo, Jacksonville, Lincoln, Decatur, Mt. Zion, Edwardsville, Fairview Heights, and Quincy, and our loan production office in Bloomington.

  • Competitive rates to upgrade your home
  • Financing for existing mortgage payments and new down payment
  • Interest-only payments available
  • Terms up to 9 months
  • Pay principal in full at end of term
  • No prepayment penalty
  • Local Central Illinois decision-making and processing
  • Attentive, friendly service from start to finish
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Copyright © 2020 Town and Country Bank All Rights Reserved. An Illinois State chartered banking organization. | Please note that Investments are not a deposit, not FDIC Insured, not insured by any federal government agency, not guaranteed by the bank and may go down in value.

Privacy Policy

Town and Country Bank is regulated by the Federal Reserve Bank of Chicago. For accolades or complaints, please contact us by sending a letter to: Customer Relations Office, 3601 Wabash Ave., Springfield, Illinois 62711. If there is no sensitive customer information, such as social security or account numbers, you can send feedback to the following email address: customerrelations@townandcountrybank.com

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