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Bridge Loans
Use the survey on this page to find mortgage companies serving your area. The rates on this page are not for bridge loan programs. Please contact the lenders, brokers, and banks directly to inquire whether of not they currently offer bridge loans.
Many investors are not offering bridge loan programs
due to the current state of the market. Bridge loans
are short term loans which allow consumers to purchase
new properties while their current primary residences
are on the market to be sold. These loans are secured
to the buyers' original homes. Many large wholesale
investors have terminated their bridge loan programs
because of the extended period of time that houses
remained for sale. Lenders and consumers both got
caught with hefty bills while properties remained
unsold in a slow market. Bridge loans may still exist
with some investors and your best bet may be to speak
with a local bank and/or credit union or reach out
to the companies listed on this site. You may also
want to see if you can use a home equity loan for
your downpayment. You may end up with a better deal.
