Bridge Loans - Short Term

Interim Financing, Gap Financing and Swing Loans

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.

An In Depth Glance

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.

You should consider an bridge loan if:

You want to lock in on low interest rates to prevent rising interest rates costs, 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.

Begin the Quote Process

Select Your Country

Enter Zip Code

Home Buying Vocabulary

Pre-qualification

Qualifying a borrower for a loan amount before looking for a home. Final approval subject to appraisal of the property.

See all Vocabulary

Frequently Asked Question

Why refinance?

Answer:
Refinancing is a great idea if it will enable you to secure a lower interest rate, wich could save you thousands of dollars over the life of the loan. Refinancing is also a great way to unleash cash from your home, with a cash-out refinance loan.

See all FAQs