Do you need to get out from underneath a home that’s worth less than what you owe on it? TEG can help with a Moving On Loan!
Moving On Loans are designed for members who:
- Are upside down on their current mortgage
- Want to move to a home that better suits their current needs
- Have some money to put towards a down payment/closing costs on a new home but not enough to pay off a deficiency balance on the current home too
- Don’t want to become a landlord
How It Works
Moving On Loans combine a mortgage for the new home you want to purchase with an unsecured loan so you can pay off the negative equity balance that may remain from the sale of your current home.
- Terms up to 60 months
- Amount depends on credit history and ability to pay
We’ll provide you a clear picture of what you’ll need to sell your home for, how much of an unsecured loan we can provide to pay the deficiency balance, and how much you’ll be able to borrow for the new home.
To get pre-approved, call one of our Mortgage Loan Officers at (845) 452-7323 or visit any of our branch locations.