A simple solution to bridge the gap between the home you have and the home you want.
A bridge loan is a short-term loan that uses the equity from your current home to help you make an offer on a new one, without rushing to sell.
If you want to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home — like for a down payment or mortgage payments. Once your current home sells, you can use the proceeds to pay the bridge loan back.
If you're relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.
Whether you're using Compass Concierge to increase your home's value, or are making improvements on your own, it may be easier to have construction work done when you're out of the house. A bridge loan can help you move faster so you're out of the house while those improvements are being completed.
When looking for a mortgage, it's important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home buying or refinancing needs, regardless of how unique your circumstances may be. We can help.
Company NMLS #35286
Licensed In: CA, CO, CT, DC, DE, FL, GA, MA, MD, NC, NH, NJ, NY, OH, PA, RI, SC, TN, TX, VA, WA (more coming soon)
*The Bridge Loan Advance for Compass clients is a loan provided by Notable Finance, LLC, NMLS# 1824748 and is available to all eligible Compass clients working with the Bridge Loan lender of their choice. Notable's phone number for applicants only: 833-615-0249. Loan eligibility is not guaranteed and all loans are subject to credit approval and underwriting by Notable. Loans made or arranged pursuant to a California Finance Lenders Law license. Compass is not a lender and is not providing loans as part of Compass Bridge Loan Services.
Information regarding lenders which offer short-term Bridge Loan financing is provided for informational purposes only and does not constitute an endorsement of the particular lenders referenced. Compass cannot guarantee that these institutions will be able to assist and does not assume any responsibility as to the performance of services to be provided by these institutions. There are no requirements that you participate in the Compass Bridge Loan Services or obtain a loan from these providers to participate in any other Compass programs (such as Compass Concierge). Speak to your Bridge Loan lender about all the costs you may be responsible for in connection with your Bridge Loan.
Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact us today.