Bridge Loan
Let’s say you currently own a home and you’re purchasing a new home. You need to put a down payment on the home you want to purchase before you are able to sell your existing home. A bridge loan is a short term loan that could often be used in this situation. In order to qualify, you would need a signed, unconditional sale offer on your existing home.
About The Author
Don Scott
Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.
Related Posts
Avoid these 10 costly mistakes when getting a mortgage in Canada
A Transparent Guide for Homebuyers
Your 2025 Guide to Buying a Home with Confidence
