Bridge Loan: Seamless Financing Between Selling and Buying Your Home
Program Summary
A Bridge Loan is a short-term financing option designed to help homeowners purchase a new property while waiting for their current home to sell. This temporary loan “bridges” the financial gap, allowing you to move forward with your home purchase without the stress of timing the sale of your existing property perfectly.
Key Benefits
- Short-Term Financing: Provides funds while your current home is on the market.
- No Contingencies: Purchase your new home without needing to sell your existing one first.
- Flexibility: Use funds for a down payment, closing costs, or other purchase-related expenses.
Program Details
- Eligibility: Requires sufficient equity in your current home.
- Loan Terms: Typically 6–12 months, with interest-only payments in most cases.
- Repayment: Paid off once your existing property sells.
Who Is This Program Best For?
- Homebuyers in competitive markets who need to act quickly to secure a new home.
- Homeowners who have equity in their current property but need funds for a new purchase.
- Individuals looking for short-term financing to bridge the gap between selling and buying.
Next Steps
Ready to make your next move with confidence? Contact us today to learn more about how a Bridge Loan can help you transition seamlessly between homes.