You are looking for a new home, and you find the place of your dreams.
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You use the loan to pay off your existing mortgage.

How It Works

Learn more about mortgage bridge loans here. We'll explain what they are and how our quotation process works.

Immediately after we receive your form, we will provide you with up to five free quotes on mortgage bridge loans.Mortgage Bridge Loans Explained

You are looking for a new home, and you find the place of your dreams. The location is perfect, the house has everything you want, and even the price is right. But you have a problem-the owner of your dream home wants to close the deal within the next 30 days, and you haven't sold your old home yet. How can you come up with the cash to pay for the new home while still carrying your current home? Mortgage bridge loans are the answer. Bridge financing is a large short-term loan that "bridges" you over the time when you own and are making payments on two homes. Some mortgage bridge loans are created so they pay the old home's mortgage in full, while others add debt in addition to the first mortgage.

Structure of Mortgage Bridge Loans

A standard mortgage bridge loan may look something like this:

  • You use the loan to pay your existing mortgage in full. The remaining cash, after six months of prepaid interest and the closing costs, will be a down payment on the new home.
  • If you haven't sold your old home after 6 months, you will then start paying interest-only payments on the bridge loan.
  • Mortgage bridge loans usually have a one year term.
  • When your current home is sold, the bridge loan is usually paid off. If you sell your old home within the first six months, you will be credited any unearned interest payments.
  • Usually, the new home must be financed by the same lender that issued the mortgage bridge loan.

Signing up for Mortgage Bridge Loans

Signing up for mortgage bridge loans is quick and easy on our site. Here is how our process works:

  1. Complete the online form. You will first give us your contact information on our online sign-up form. The form is free to fill out and comes with no obligation.
  2. Get quotes instantly. Immediately after we receive your form, we will provide you with up to five free quotes on mortgage bridge loans.
  3. Apply for a loan on a lender's site or save quotes You can then either apply for the loan of your choice on the lender's site or save your quotes for later.

View the basics of mortgage bridge loans to make sure this is the perfect financing option for you!