Bridge Loan
Buy Your Next Home Before Selling the Current One
Need to move fast but haven’t sold your current home yet? A bridge home loan offers a short-term financing solution that helps you buy before you sell—giving you the flexibility to secure your next property without waiting.
At Salute Mortgage, we simplify the transition between homes with competitive bridge loan options designed to eliminate timing stress and keep you moving forward.
Get Your QuoteWhat Is a Bridge Loan?
A bridge loan is a short-term mortgage that allows you to borrow against the equity in your current home to fund the down payment or purchase of a new property. It “bridges the gap” between buying and selling, typically with a loan term of 6 to 12 months.
Who Should Consider a Bridge Home Loan?
You may benefit from bridge financing if you:
✔️ Found your next home before listing or closing on your current home
✔️ Need a down payment but your equity is still tied up
✔️ Want to make a competitive, non-contingent offer
✔️ Are relocating and need to act quickly
✔️ Want to avoid double mortgage payments
Key Features of Our Bridge Loan Program
✅ Access equity from your current home before it sells
✅ Make stronger offers without a home sale contingency
✅ No monthly payments required in some cases (interest deferred)
✅ Terms typically range from 6 to 12 months
✅ Available for primary residences and move-up buyers
Bridge Loan vs Traditional Financing
| Feature | Bridge Loan | Traditional Loan |
|---|---|---|
| Purpose | Buy new home before selling current one | Buy home with existing down payment/cash |
| Term | Short-term (6–12 months) | Long-term (15–30 years) |
| Collateral | Current home | Subject property |
| Monthly payments | May be deferred or interest-only | Full principal & interest |
| Best for | Transitional buyers | Standard home purchases |
Bridge Loan vs HELOC: What’s the Difference?
While both let you tap into home equity, a bridge loan is specifically designed for short-term real estate transactions:
| Comparison | Bridge Loan | HELOC |
|---|---|---|
| Structure | Lump sum loan | Revolving credit line |
| Use case | Buy before you sell | Ongoing access to equity |
| Term | Short-term (up to 12 months) | Long-term (up to 10 years) |
| Speed | Faster closing | May take longer to underwrite |
Bridge Loan Requirements
| Requirement | Typical Guideline |
|---|---|
| Credit score | 680+ preferred |
| Equity | 20%+ in current home |
| Loan-to-Value (LTV) | Varies; usually ≤ 80% |
| Repayment | Often due at closing of the old home sale |
Note: Specific terms may vary by lender and market conditions.
Benefits of a Bridge Home Loan
✔️ Buy your next home without rushing to sell
✔️ Avoid temporary housing or storage costs
✔️ Submit stronger offers in competitive markets
✔️ Move once, not twice
✔️ Gain peace of mind during your transition
Bridge Loan FAQs
A bridge loan is a short-term financing solution that allows you to access the equity in your current home to help purchase a new one—before your existing home sells. It “bridges” the financial gap, giving you more flexibility and confidence when timing doesn’t align perfectly.
Bridge loans are perfect for homeowners looking to buy a new home without waiting to sell their current one. It’s especially helpful in competitive markets where making a non-contingent offer can improve your chances of securing the next home.
Bridge loans are typically repaid once your existing home sells. Most have terms ranging from 6 to 12 months, and many allow for interest-only payments during the loan period to keep costs manageable while you transition between homes.
Yes, you may still qualify as long as you have sufficient equity and meet lender guidelines regarding credit and debt-to-income ratio. Our team will evaluate your full financial picture to determine eligibility and structure the loan to fit your timeline.
Ready to Bridge the Gap?
If you're between homes and want a smooth, flexible financing solution, a bridge home loan from Salute Mortgage may be your perfect fit.
Get Your Quote