Bridge Loans

A bridge loan is a type of short-term, temporary loan that is usually used to bridge the gap between the property buyer’s new mortgage and the sales price of the property he is acquiring. This loan is given with the buyer’s existing home being used as a security or collateral. The money secured from the bridge loan is then used as a down payment for the property that is on sale.

Bridge Loan

Bridge Loan

Compared to the traditional types of equity financing, a bridge loan typically charges higher interest rates, averaging at about 12 to 15%. However, for individuals and businesses wanting to quickly close an acquisition deal, save a property from foreclosure, or secure a long-term financing by paying-off existing mortgage immediately, a bridge loan is a great financing alternative.


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