The Windermere Bridge Loan

Homeowners across our region are enjoying very healthy equity levels due to an amazing upswing in the real estate market over the last five years. In fact, the median price in Whatcom County is up 59% over the last five years. This growth in equity has given homeowners the exciting option to sell their homes for a price that will bear a sizable down payment or the ability to “buy all-cash” on their next home. This has many people exploring their next chapters, such as moving up to a larger home or downsizing for retirement. The strong price appreciation is great news and provides many opportunities; however, we have also faced some challenges in how to make these transitions work without moving twice.


Our biggest challenge for homebuyers in the marketplace right now is inventory levels. It is also the reason so many home sellers are doing so well. Currently, Whatcom County sits at 1 month of inventory based on pending sales. Historically, buyers that are also sellers would commonly secure a new home with a home sale contingency on the sale of their current home. Meaning the seller of the new home they are buying would give them a month or so to get their current house sold in order to be able to buy theirs.


Well in this market, utilizing a home sale contingency is only rarely an option, especially on desirable homes. So, the million-dollar question is this: how does one who has gained so much equity, now itching to get that bigger house, different location, or perfect rambler for settling into retirement, make this transition without having to move twice? We need to get creative and have a strategy. The Windermere Bridge Loan program has been a powerful tool to help homebuyers transition their equity without having to sell their house first.


This is an amazing tool for homeowners that own their homes free-and-clear or have gained a large amount of equity over time. This is also a low-cost and faster alternative to a cash-out re-fi or securing a HELOC which enables one to pull the equity out of their current house prior to selling it in order to make a non-contingent offer.


The way it works is we take the market value of the house the homeowner current lives in, established by a comparative market analysis (CMA) that I complete and is approved by my Broker. We then take 75% of the CMA value and subtract any debt owed, and that is the maximum amount the homeowner can borrow for their next down payment. For example, if the market value is $700,000: 75% of $700,000 is $525,000. Say the homeowner owes a remaining $225,000 on their mortgage; the max amount they could borrow would be $525,000 – $225,000 = $300,000.  If that same homeowner didn’t have a mortgage then they could borrow up to $525,000 as that is 75% of the CMA value.


This tool enables people to make transitions without having to sell their home first, attempt a home-sale-contingent offer, or go through the lengthy and expensive process of a cash-out re-fi or securing a HELOC. What makes this tool so efficient, is that it doesn’t require an appraisal (like a re-fi or HELOC does), and these can easily be turned around in 5-7 business days. This tool provides the opportunity to quickly and inexpensively pull your equity out, be competitive, and eliminates the double move.


The fees associated with this program are a 1% loan fee on the loan amount (minimum fee of $1,000), a title report, credit report, recording fees for the deed, and interest that is incurred between the loan funding and being paid off once the subject home is sold. That interest is conveniently wrapped up in the closing costs when the client closes the sale of the collateral home, eliminating the need to make monthly interest payments. Clients who use this program are also required to list the home 30 days after the loan has funded.  This allows time for the client to prepare their home for sale after they have moved out. Lastly, only homes in Washington state are eligible to be the collateral property, but note this can be a tool for relocating out-of-state which we are seeing a lot of.


In a strategy that is somewhat mind-blowing, we can sometimes use these bridge loans and never have to actually fund them. For example, if we secure a property non-contingent with the bridge loan and immediately get the subject home on the market, we can often secure a sale with a simultaneous closing, and never have to fund the loan. This eliminates the loan fee, interest, and the need to carry two mortgages. All this requires is getting pre-approved for the bridge loan and preparing the home for sale prior to shopping, so one is prepared to act quickly and line up both closings.


If you are excited about equity levels and today’s low interest rates and have thought about making that move you’ve been waiting for, but have been fearful of how to do it all – I can help. The Windermere Bridge Loan, along with great attention to detail, hand-holding, and careful planning have helped many people make these exciting transitions. It is my goal to help keep my clients informed and empower strong decisions. Please contact me if you would like further information on how this might work for you or someone you know.


Posted on November 30, 2020 at 7:37 pm
Tracie Gulit | Posted in Buying a Home, Selling a Home, Windermere Foundation |

We Are the Human Algorithm


What’s the Windermere difference? It’s what we call The Human Algorithm, and that difference is the edge you need to realize your dreams.  We won’t stop until we find you your perfect home no matter what that means!





Posted on November 13, 2020 at 10:07 pm
Tracie Gulit | Posted in Community, Windermere Foundation |

Monday with Matthew

On this episode of “Monday with Matthew,” Matthew Gardner analyzes the surprisingly strong U.S. Job Market Report from October. This video was recorded on Friday, November 6.

Posted on November 11, 2020 at 6:36 pm
Tracie Gulit | Posted in Monday with Matthew |

Weekly Market Update

It’s going to be a beautiful weekend. Soak it up !
Blaine had a big week! Bellingham’s new listings are. More homes sold than listed in each area and we listed less than we pended overall this week. The trend of low supply continues…
~Originally posted 11/6/20

Posted on November 11, 2020 at 1:26 am
Tracie Gulit | Posted in Market Updates |

Weekly Market Update

Happy to see our new listings increase some this last week because boy do we need more!
Enjoy some safe fun this weekend! And don’t forget to get ready to turn your  Clocks back! I’ll have some tips on what else to do when you turn them back tomorrow!
~Originally posted 10/30/20

Posted on November 11, 2020 at 1:21 am
Tracie Gulit | Posted in Market Updates |

Weekly Market Update

It’s that time of year where we really start to notice new listings decreasing each week. And with more homes accepting offers than new listings coming on the market = our inventory challenge is continuing to worsen.
First 5 comments to say what happens when there’s more demand than supply get your Saturday morning coffee on me!
~Originally posted 10/23/20

Posted on November 11, 2020 at 1:16 am
Tracie Gulit | Posted in Market Updates |

Weekly Market Update

It’s been A WEEK!
3 closings in my business. More offers accepted than listings came on the market… and more calls than ever for a week in October from new clients for me!
Here’s the week’s Market Update for you.
Questions about what to expect for the coming weeks??! Give me a call 360.201.6433
~Originally posted 10/16/20

Posted on November 11, 2020 at 1:10 am
Tracie Gulit | Posted in Market Updates |

Weekly Market Update

Ya’ll have asked, and here’s my answer! Here’s my commitment to you to provide a weekly update, on Fridays, for what happened in our markets over the last week!
Breaking it down, I’ve kept it super simple for you… for Bellingham, Ferndale, Lynden, and Blaine- each week you can easily swipe through and see:
-How many NEW LISTINGS came on the market that week.
-How many homes SOLD that week.
-How many homes accepted an offer that week and changed to a pending status.
My goal is to help you easily see how inventory is trending. From week to week we might also explore prices and more- if there’s something you’d like to hear about… LET ME KNOW!
For our first week l, tell me in the comments- what do you see that’s most surprising?!
~Originally posted 10/10/20

Posted on November 11, 2020 at 1:06 am
Tracie Gulit | Posted in Market Updates |

My Commitment to Strong Connections Everywhere

2020- the year I spent making true, valued connections with other realtors I find inspiring.

 I’m sure you can imagine the beginning of quarantine was a scary, strange time for us all, but for us Real Estate Business Owners we weren’t quite sure what to expect for our near future.

I was incredibly thankful I had reached out to Heather Maddox and a few other badass lady realtors around the greater Seattle area prior to it all and created a regular gathering space where we collaborated and empathized.

This week I had the pleasure of an accidental, spontaneous chance to grab a glass of wine {or two} when Heather and I were both in the same distant place at the same time. We couldn’t help but brainstorm some great ideas on how to bring you and her clients more value in the near future

Stay tuned for more greatness: my friends!

Posted on October 30, 2020 at 5:51 pm
Tracie Gulit | Posted in Community, Tracie's Thoughts |

Today’s the Day!

We are excited to announce the first annual Windermere Whatcom Day of Giving.  On October 29th, all donations made to the Windermere Foundation will be used to support the food program at the Whatcom County Boys and Girls Club!  In addition to every donation, The Windermere Foundation will match up to $2,000!  This is a great opportunity to support our community and give back, I hope you’ll join me in contributing if you are able!  Join us by using the link below to learn more and donate!


Learn More and Donate





Posted on October 29, 2020 at 11:48 pm
Tracie Gulit | Posted in Community, Windermere Foundation |