Bridge Financing

Bridge Financing

Bridge Financing

A bridge loan is a temporary financing option. It will help homeowners “bridge” the gap between the sale of an existing home and the purchase of a new one. You can use the equity in your current home for the down payment on your next property while you wait for your home to sell.

Bridge loan terms are typically 90 days. A firm sale agreement must be in place on your existing home in order to qualify.
When the sale transaction closes you must use the proceeds to pay off the bridge loan and any interest.

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