How to buy and sell your home at the same time in the East Bay: Option 8

10 Ideas for how to buy and sell at the same time in the East Bay Area Option 8

Bridge Loan

What if you want to buy a new home, but you're still living in your current home that has equity that you need to put down as a down payment on your new home.

Well, what about a bridge loan? Buying a new home before you sell your current home can be super difficult and stressful, especially if your home's equity is the source for your down payment. If you have equity in the home that you're selling a bridge loan could make it easier to time, since your equity can be accessed prior to the actual closing or the sale of your home. A bridge loan is actually a short-term financing option that can help you get a loan for the equity in your current home. The application process for this type of short-term financing can be relatively fast, 30 to 60 days usually. And allows you to have the ability to gain access to your equity without impacting your ability to get a new mortgage. Compass has competitive bridge loans that are available in these specific situations. So please do reach out to us at exploreeastbayhomes.com. Let's see if a bridge loan is right for you.

To see more about our Compass Bridge Loan Click here