Monica received a promotion at work that requires her to relocate. Because of the timing of her promotion, she’ll need to buy a new house in her new city before her current one is sold. So, she won’t have any equity from her current home to make a down payment on the new house. What loan option would allow her to make the purchase before selling the old house?

Respuesta :

Answer:

A bridge loan.

Explanation:

A short-term loan that helps give the loaners the money to help buy a home, before they sell their current home.