Bridge Loans

Purchase A New Home Before Your Existing Home Is Sold

Our Bridge Loan programs can help you purchase a new home before your existing home is sold. If a seller is unwilling to consider purchase offers with sales contingencies, we have two programs to choose from:

Close with Confidence Bridge Loan

This loan program is designed for borrowers who are in contract for the sale of their existing property, and want to make an offer on another property without a sales contingency. Under this program, you can take the equity from your current home (that is a pending sale) and use the funds to purchase a new home.

Debt Inclusive Bridge Loan

This loan program is designed for borrowers who want to take equity from their current home that is listed for sale and use the funds to purchase another home. All of the debts for the departing residence including any payments on the bridge loan (if any are required) are factored into the borrower’s total DTI when purchasing the new home.

Qualifications

Close With Confidence Debt Inclusive
Departing Residence
  • Pending sale
  • Signed listing agreement
Bridge Loan Amount
  • Up to $400K
  • Up to $400K
Loan Term
  • 3 months
  • 4 months
Minimum FICO Credit Score
  • 680
  • 680
Max CLTV
  • 80%
  • 70%
Max Debt to Income
  • DTI ratios based on max allowed by purchase transaction, but not to exceed 50%
  • Can exclude departing house payments if pending sale requirements are met
  • DTI ratios based on max allowed by purchase transaction, but not to exceed 50%

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