Bridge Loan

 

GUASFCU's Bridge Loans are designed for members transitioning between school and work in their first full-time salaried position. You can apply for a Bridge Loan with proof of employment in the form of an offer letter from an employer. Bridge Loans allow you to defer payment for either 6 or 12 months, until you become well-situated in your new job. Rates start at 7.49%. Continue reading below to learn more.

  • The applicant must provide GUASFCU with an offer letter from an employer that states a start date.
  • Bridge Loans with a principal of $500 or less can have a duration no longer than 12 months.
  • Bridge Loans with a principal of $1,000 or less can have a duration no longer than 24 months.
  • Both the loan applicant and the cosigner need to complete and submit a separate application.
  • The cosigner must be in equal or greater financial position than the maker.
  • Maker should be able to repay the loan balance independent of the cosigner.

 

Bridge (No Cosigner)

Bridge (Cosigner)

Minimum Principal $100 $100
Loan Duration 12 - 60 months 60 months or less

  • No application fee for regular decision processing.
  • Very competitive 7.49% starting rate.
  • Borrower can defer first payment either 6 or 12 months.
  • Loan duration of up to 60 months available.
  • No collateral required.
  • A cosigner on a Bridge Loan reduces the annual percentage rate by 0.25%.
  • Easy and convenient online application.
 
RATES AS LOW AS
 
7.49%

 
APR

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