highlights of
Bridge Home Loan
A Bridge Home Loan serves as a temporary financing option for homeowners looking to purchase a new property before selling their existing home. This type of loan bridges the financial gap between the sale of your current home and the purchase of your new one, providing the necessary funds to secure your next residence without waiting for your current home to sell.
Bridge loans are short-term solutions, typically lasting from 6 months to a year, and are secured by the equity in your existing property. This financing option is particularly useful in competitive real estate markets, where the ability to make a quick purchase can be crucial. By leveraging a bridge loan, buyers can avoid contingent offers, making their bid more attractive to sellers and facilitating a smoother transition between homes.
Immediate Equity Access
Short-term financing options, typically with terms of 6 to 12 months
Interest-only payments during the loan term
Funds are provided as a lump sum at the beginning of the loan term
Repayment is usually expected once the original home is sold, without early repayment penalties.
Offers a solution for buyers to proceed with purchasing a new home without waiting for their current home to sell.