Bridge Loan: Short‑Term Financing to Buy Before You Sell
Quick Facts
- Short‑term financing
- Helps you buy before selling
- Fast approvals
- Interest‑only options
- Ideal for competitive markets
What Is a Bridge Loan?
A Bridge Loan is a short‑term mortgage that helps homeowners purchase a new property before selling their current one. It provides temporary financing to cover the down payment or full purchase amount until the existing home is sold.
Bridge Loan Benefits
- Buy a new home before selling your current one
- Fast approvals and flexible terms
- Interest‑only payment options
- Ideal for competitive or fast‑moving markets
- Helps avoid contingent offers
Bridge Loan Eligibility Requirements
- Sufficient equity in your current home
- Acceptable credit profile
- Stable income and financial history
- Clear exit strategy (sale of current home)
- Property must meet lender guidelines
How a Bridge Loan Works
A Bridge Loan provides short‑term financing secured by your current home. Borrowers use the funds to purchase a new property, then repay the bridge loan once the existing home sells. Lenders review equity, credit, and the planned timeline for selling.
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