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Wooden Stairs

Bridge Loans

You've sold your current home and purchased your next home; but the closing dates don't line up.  Fear not, Bridge Loan Financing to the rescue!

What You Need to Know...

A bridge loan is a great option for securing a down payment on a new home purchase, when your equity is still tied up in your current home.  It is a short-term solution that often ranges from a few weeks to six months in length.  Many lenders offer bridge loans and I'll shop around to ensure you're getting the best option for your needs; just like I would for your mortgage!

It's important to note that you do need to sell your current property in order to secure a bridge loan; and interest rates will vary lender to lender.  Typically, you'll see bridge loan rates come in at Prime rate + three or four percent.

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