Bridge Loans - Short Term

Bridge loans bridge the gap created when a homeowner buys a new home and has not yet sold the old home. Often one of the conditions of buying a new home is that you sell your old home. If the two transactions overlap you may need a bridge loan.

A swing loan (or bridge loan) is a type of short term loan in the financial industry. Bridge loans are normally taken out for a period of 2 weeks to 3 years in order to finance new construction homes or commercial businesses. Bridge loans are most often used for commercial real estate purchases, to quickly close on real estate, retrieve property from foreclosure, and to take advantage of a short term financing opportunity in order to secure long term financing.