Home / Loan options / Bridge
Bridge loans.
Buy the next house before the current one sells. Short-term financing that uses the equity you already have, so your offer does not depend on a contingency.
Buy before you sell
The problem it solves
Most of your money is locked in the house you are standing in, and you cannot get at it until it closes. Meanwhile the house you want is on the market now. A seller looking at two offers, one clean and one contingent on another sale, takes the clean one almost every time.
A bridge loan unlocks that equity ahead of the sale. You buy without a home-sale contingency, move on your own schedule, and pay the bridge off when the old house closes.
How it is structured
It is short-term and it is secured — against the departing residence, the new one, or both, depending on the program. It is written with an exit in mind, which is the sale, and underwriting will want that exit to look realistic: a property that will actually sell, priced where it will actually sell.
Who it fits
- Move-up buyers with real equity in a home that has not listed or has not closed.
- Relocating for work with a start date that will not wait for a closing calendar.
- Buyers in a market where contingent offers are simply not competitive.
- Anyone who wants to move once instead of twice, with no rental in between.
The honest risk
You are carrying two properties until the first one sells. If it takes longer than planned, you carry them longer. That is the whole risk and it is worth saying plainly rather than burying. Before you take one, be honest about what your house will sell for and how long it will take — an automated estimate is a reasonable place to start that conversation.
Questions people ask
Is a HELOC a cheaper way to do this?
Often, yes — if you open it before you list. Most lines are harder to get once the property is on the market. If you are early enough, ask about a HELOC first.
What if my house does not sell?
Then you keep carrying it, and the bridge has to be dealt with at its maturity. This is the question to answer before you sign, not after, and a loan officer should walk you through it without flinching.
Program availability varies by state and by property. A licensed loan officer will confirm what is available for your situation.
Find out what you qualify for.
A licensed loan officer reviews what you send and tells you where you stand, in writing. No cost, and no obligation to go further.