Bridge Financing & Second Mortgages
Whether you need to bridge the gap between selling one home and buying another, or you want to access equity without touching your first mortgage, short-term bridge financing and second mortgages can help you move forward without waiting.
How It Works
- Bridge Financing: short-term financing that "bridges" the gap when your purchase closes before your sale does, using the equity in your current home to cover the overlap.
- Second Mortgages: an additional loan registered behind your existing first mortgage, letting you access home equity — often used for renovations, debt consolidation, or investment — without refinancing your entire first mortgage.
If your new home closes two weeks before your current home sells, bridge financing can cover that gap using the equity from your sale, so you're not stuck trying to close both on the same day. Similarly, a homeowner might take a second mortgage to consolidate high-interest credit card debt — for illustration, rolling several cards carrying around a 25% interest rate into a single second-mortgage payment at a materially lower rate.
The rates mentioned above are hypothetical examples for illustration only, not a quote or guarantee. Actual rates and terms vary by lender and individual application.
Frequently Asked Questions
It's meant to be short-term — typically just long enough to cover the gap between your purchase and sale closing dates.
Need to Bridge a Gap or Access Equity?
Book a free call and let's map out the right short-term solution.