In many instances, a borrower will need to have their current home sold before they qualify for secondary market (long-term) financing on the purchase of their new home. However, there are borrowers who qualify even without the sale of their current home, and for these customers, Union Bank offers our cash-to-close loan. This allows you to tap the equity in your current home for the down payment on your new home.

Benefits of a Cash-to-Close loan include:

• Ability to access equity in your current home.
• Allows you to lock in long-term financing today.
• Cash-to-close loans do not require payments during the loan period. The loan is paid when your current home sells.