Bridge Loans
Our Bridge Loan Program is designed to help homeowners and real estate investors access quick, short-term financing during transitional periods-such as buying a new home before selling your current one or securing a property in a competitive market. Bridge loans “bridge the gap” between the purchase of a new property and the sale of an existing one, providing the liquidity you need to move forward with confidence.
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Key Features
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Short-term financing, typically 6 to 12 months, with some options extending up to 24 months
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Funds can be used for a down payment on a new home, to pay off an existing mortgage, or to cover closing costs
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Interest-only payments are common during the loan term, with the full balance due at the end of the period (balloon payment)
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Loan amounts vary widely, from tens of thousands to over $1 million, depending on your equity and lender guidelines
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Fast approval and funding, often within 10–15 days-much quicker than traditional mortgages
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Higher interest rates than conventional loans, usually 2% or more above prime rate
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Typically secured by the equity in your existing home or property
Eligibility:
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Sufficient equity in your current home (generally at least 20% or more)
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Good credit score and stable financial history; higher scores may qualify for better rates
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Lenders may require a low debt-to-income ratio and proof of income or liquidity to ensure you can handle payments on both properties
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Detailed plan for how you will repay the bridge loan, such as selling your current home or refinancing
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Property appraisal and standard documentation, such as bank statements and insurance information