bridging
gap
the
bridging
gap
b
RIDGE LOANS are temporary loans, secured by your existing
home, that bridge the gap between the sales price of a new
home and the homebuyer's new mortgage in the event the
buyer's existing home hasn't yet sold before closing. In other
words, you're effectively borrowing your down payment on
the new home.
That might sound like an ideal solution, but it's not without risk.
Bridge loans are popular in certain types of real estate markets, but
whether one is right for you can depend on several factors.
