Loan Programs  |  11

Bridge Loans

Buy the new place before the old one sells. No sofa-surfing in between.

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The quick version

How it works

A bridge loan is short-term financing that uses the equity in your current home to help you buy your next one before the first one sells. That means you can make a strong, non-contingent offer instead of asking a seller to wait on your sale, which sellers love about as much as surprise inspections. Bridge loans typically run six to twelve months and are paid off when your current home sells. They work best when you have solid equity and a home that's ready to list. We'll also compare alternatives like a HELOC or a buy-before-you-sell program.

Highlights

Make non-contingent offers

Compete without waiting on your sale.

Use equity you already have

Your current home funds the move.

Short-term by design

Paid off when your current home sells.

Alternatives compared

We'll weigh HELOCs and buy-before-you-sell programs too.

FAQ

Questions people actually ask

Tap a question to see the answer.

1How does a bridge loan work?+
It's secured by your current home and gives you access to its equity for your next down payment. When your current home sells, the sale proceeds pay off the bridge loan.
2How long does a bridge loan last?+
Usually six to twelve months, depending on the lender.
3Do I have to make two mortgage payments?+
Possibly, until your current home sells. Some bridge loans let interest accrue or be paid at the sale. We'll make sure you qualify for both payments if needed.
4How much equity do I need?+
Bridge lenders want meaningful equity in your current home. The more you have, the more options you'll get.
5What if my home doesn't sell in time?+
That's the main risk. Some lenders offer extensions, but pricing your home right and having a backup plan matters. We'll talk through the what-ifs before you start.
6Is a bridge loan the same as a HELOC?+
No. A HELOC is a longer-term line of credit, and some buyers use one as a bridge. It's often cheaper but has to be in place before you list your home.
7Are bridge loans expensive?+
They usually cost more than a standard mortgage because they're short-term. For many buyers, winning the right home without a sale contingency is worth it.
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This information is general and educational. It is not a commitment to lend. Program guidelines vary by lender, change over time, and are subject to credit approval and underwriting.

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Plano Mortgage Broker

Mohave Mortgage

5830 Granite Pkwy # 100-213

Plano Texas, 75024

Office: (469) 414-5554

Branch NMLS # 2690682

Mohave Mortgage

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