A bridge loan is where you use the equity in your current home to help you finance the purchase of a new home. In other words, you leverage the equity in your current home and use it as a bridge to get you into the new home. We have done many of these loans over the years. Here are a couple ways to finance this.

One way is to get a home equity line of credit on your current home and use that cash to make a down payment, or pay cash for the new home. Another way is a cross-collateral loan where the lender will lien both your current home and the home you will purchase. Once you sell your current home, the loan will be paid down with the proceeds from the sale.

If you are trying to figure out a way to leverage your equity to purchase a new home, give us a call. We can help.