Buying Before Selling
You've found your next home, but your current property hasn't closed yet.
Bridge Loans
Don't Let Your Next Home Wait On The Last One.
A bridge loan can provide temporary financing that helps eligible homeowners navigate the transition between selling an existing property and purchasing a new one
A bridge loan can provide temporary financing that helps eligible homeowners navigate the transition between selling an existing property and purchasing a new one
What Is A Bridge Loan?
A Temporary Solution For A Transition That Can't Wait.
Selling one home while purchasing another can create a timing challenge. Your next home may become available before the sale of your current home is complete.
A bridge loan is designed to provide temporary financing that may help eligible borrowers bridge that gap, subject to the specific program, property and borrower requirements. By using the equity in your current home, a bridge loan may give you the flexibility to move forward on your next purchase without waiting for your existing property to sell.
Because bridge financing can involve additional costs and risks, including the possibility of carrying two housing payments for a period of time, it's important to review the structure carefully with a qualified mortgage professional. The Crescenzo Team can help you understand your options and whether a bridge loan is the right fit.
The Timing Challenge
When Your Next Move Happens Before Your Current One Is Finished.
01 / CURRENT HOME
You Own Your Current Home
Your existing property may have significant equity, but it has not yet sold. At the same time, you have found the home you want to purchase.
02 / NEXT HOME
Your Next Home Is Ready
Bridge financing may help eligible borrowers access temporary funds to support the transition while the existing property moves toward sale.
Why Consider Bridge Financing?
More Flexibility When Timing Matters.
Every home transition is different. Depending on your circumstances and the available program, bridge financing may offer another way to approach the timing between two properties.
✓
Address A Timing Gap
Temporary financing may help when
your purchase and sale timelines
don't line up.
✓
Compete With Greater Flexibility
Depending on the transaction, bridge
financing may provide flexibility
while your existing home is being sold.
✓
Use Existing Home Equity
Your current home's equity may be
considered as part of the financing
structure.
✓
Plan Your Transition
A loan professional can help you
understand the costs, timing and
requirements before you proceed.
Bridge Loan Snapshot
Built Around The Gap Between Two Homes.
Bridge financing is typically temporary. The structure, repayment strategy and qualification requirements depend on the specific loan program and borrower situation.
Primary purpose
Temporary financing
Common scenario
Buy before selling
Existing equity
May be considered
Repayment
Program dependent
When A Bridge Loan May Help
Designed For Real-World Home Transitions.
A bridge loan can help you buy your next home before selling your current one, giving you the flexibility to manage the transition with greater confidence and less pressure.
Competitive Purchase
A bridge strategy may help create flexibility around your purchase timing when conditions require a faster move.
Relocation
You're moving to a new area and need to coordinate the sale of one property with the purchase of another.
Equity-Based Planning
You have equity in your existing home that may be part of your overall transition strategy.
Timing Flexibility
You need additional time to coordinate your sale, purchase and move without forcing every event to happen simultaneously.
Strategic Move
You're planning a move where controlling the timing between two properties is important.
Your Next Home Doesn't Have To Wait For The Perfect Timeline.
Let's discuss your current home, your next move and whether bridge financing may fit your situation.
The Process
Plan The Gap. Make The Move.
01
Review Your Situation
Discuss your current home, existing mortgage, equity and plans for your next property.
02
Explore Financing
Review available bridge financing structures, costs, requirements and repayment strategies.
03
Purchase Your Next Home
Move forward with your purchase according to the terms of your approved financing.
04
Complete The Transition
As your existing property sells, follow the repayment strategy established for your financing.
FAQ
Bridge Loan Questions, Answered.
Get clear answers to common questions about bridge loans, eligibility, financing options, loan terms, and how bridge financing can help you move forward with your next home.
A bridge loan is a form of temporary financing that may help eligible homeowners
manage the gap between purchasing a new property and selling an existing property.
A bridge loan may be considered when the timing of a home purchase does not line up
with the sale of an existing property. It can provide temporary financing during
that transition, subject to program requirements.
Depending on your financial situation and the available financing program, bridge
financing may provide an option for purchasing before your existing property is
sold.
Bridge loans are generally designed as temporary financing. The exact duration and
repayment structure depend on the specific program and loan terms.
Depending on the program, equity in your existing property may be considered as part
of the financing structure. Your loan professional can review the applicable
requirements with you.
Ready for your next move?
Choose Phil or PJ to start your application.