Bridge Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A bridge loan is short-term financing that lets you buy a new home before selling your current one, bridging the timing gap.
What Bridge Loan means
Secured by your existing home's equity, a bridge loan funds the down payment on the new purchase so you can make a non-contingent offer. It's repaid when your old home sells, usually within 6–12 months.
Florida example
A Florida family upsizing in Broward County uses a bridge loan against $150,000 of equity to buy before listing, avoiding a rent-back or double move. They pay higher interest for the convenience until the first home closes.
Financing the gap between homes
A bridge loan is a short-term loan that helps you buy a new home before your current one sells. It taps the equity in your existing home to fund the next down payment.
You repay it once your current home closes, usually within a year.
When it helps
A bridge loan lets you make a strong offer without a sale contingency. In a competitive Florida market, that can win the home you want.
The trade-off is carrying costs until your sale closes. Reach out and we will see whether a bridge loan fits your move.