Bridge The Gap To Your New Home

Looking to buy a new home before selling your current one? Consider a Bridge Loan.

What’s a Bridge Loan*?

A Bridge Loan is a home equity bridge loan program that provides Conventional purchase loan clients with the option to access the equity in an existing primary residence as a source of funds for the down payment on the purchase of a new primary residence.

Loan Amounts

Up to $500,000.

Generous CLTV

Up to 85% for loans under $250,000.

Minimal Origination Fee

$1,000 or 1% if under $100,000.

Hassle Free

Roll in closing costs and pay from loan proceeds.

Short-Term Relief

6-month balloon term with interest-only payments. Option to extend for an additional 6-months.

* A bridge loan has a higher interest rate than a conventional loan or your first mortgage. Bridge loans have closing costs, and you may pay an origination fee on the amount you are borrowing. Terms for bridge loans are typically less than 1 year so consider the costs since you’ll likely be paying fees again on your new mortgage. Other restrictions and limitations may apply and rates are subject to change. Rates, terms, and conditions along with underwriting are subject to change. Talk with your loan originator to fully understand the benefits and potential drawbacks of a bridge loan. 

Learn More about Bridge Loans

Reach out to our team today!

Call (518) 389-7070

Benefits of Choosing a Bridge Loan

1

Quick Cash Flow

Provides a source of funds for the downpayment required for your new home.
2

Improve Your Current Home

Proceeds can also be used to improve the condition of your current home before selling.
3

Secure

Your current home acts as collateral.
4

Flexible terms

Terms and costs can vary, fitting different financial needs.
5

Seamless Transition

Facilitates a smooth move to your new home by bridging the financial gap.
6

Competitive Edge

Enhances your buying power in hot markets and may help you get rid of a contingency to sell.

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