For many homebuyers, purchasing a new home also means selling their current home. Unfortunately, the sale of the old house doesn't always coincide perfectly with the purchase of the new one. With a mortgage bridge loan, you can access available equity in your existing home prior to its sale for the use as down payment on your new purchase. This gives you flexibility with your timeline for this large life change and also gives you purchasing power when approaching sellers who might be nervous that you have a house to sell.
- 15-year fixed home equity product is used for Bridge Loan financing