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