Mortgage bridge loans are loans that bridge you over the period when you own and are paying for two homes.
Select Service:
Property Type:
Credit Rating:
You can sign up to get quote son mortgage bridge loans by filling out our brief, online form.

Frequently Asked Questions about Mortgage Bridge Loans

On this page the most commonly asked questions and their respective answers about mortgage bridge loans.

Mortgage bridge loans are short-term loans that tend to have above-average interest rates.Exactly what are mortgage bridge loans?

Mortgage bridge loans are short-term loans that bridge you over the period when you own and are paying for two homes. This situation usually arises for homebuyers when the purchase of a new home also involves the sale of an old one. In these situations, borrowers look to mortgage bridge loans to span the gap between the closing of the purchase of the new home and the sale of the old home. You use mortgage bridge loans to pay off your existing mortgage and then use the remaining money to make a down payment on your new home. When you close on the sale of your old home, the loan is usually paid off in full.

How should I get mortgage bridge loans?

You are able to sign up to get quote son mortgage bridge loans by filling out our brief, online form. You will just need to provide us with your name, phone number, and other fundemental contact information, and we will instantly provide you with up to five free quotes on mortgage bridge loans. We present these quotes to you side-by-side to help you compare loans easily. If you see a loan that fits your needs, you can then apply for it on the mortgage lender's website. You can also save your quotes and return to our site at your convenience.

Are you a lender?

No, we simply are not a lender, and we do not issue mortgage bridge loans. Mortgage Bridge Loans is simply a no-cost matching service that shall help our visitors seek and compare quality lenders that may offer affordable mortgage bridge loans. Our goal is to be a one-stop-shopping site for those in the market for mortgage bridge loans. Our services are free and come with no obligation.

When should I consider mortgage bridge loans?

Mortgage bridge loans are ideal if the seller on your next home wants to close immediately, but you have not sold your old home yet. In this case, a mortgage bridge loan would allow you to fill the gap between when you buy your new home and when your old home sells. You should only consider mortgage bridge loans, however, if you can afford the interest charges and can pay the loan off in full as quickly as possible. Learn more about buying and selling a home at the same time.

What are the interest rates on mortgage bridge loans?

Mortgage bridge loans are short-term loans that tend to have above-average interest rates. Rates will vary by lender, but a typical interest rate is the prime rate plus 1%-3%.