Mortgage Bridge Loan Guide for Home Purchase Transition (2026)
Use bridge loans for home purchase: bridge loan rates, qualification, timing, and bridge vs contingent offer for buying before selling current home.
Summary
Bridge loans finance new home before selling current home. This guide explains rates, qualification, timing, and bridge loan strategies.
Key Steps
- 1Understand bridge purpose: short-term loan to buy new home before current sale.
- 2Compare rates: bridge loans 8-10% interest, higher than traditional mortgage.
- 3Check qualification: requires equity in current home, income verification.
- 4Calculate costs: bridge interest + carrying costs vs contingent offer risk.
- 5Plan timing: bridge loans typically 6-12 months, repay when current home sold.