Bridge Loan Services

Bridge loans help you bridge the gap between the home you have and the home you want, with access to competitive rates and dedicated support from lenders. When you sell your home with us, you can get up to six months of your loan payments fronted.

Bridge Loans Before - Coastal Home Specialist - Real Estate Agents in San Diego

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Bridge Loan After - Coastal Home Specialist - Real Estate Agents in San Diego

What is a bridge loan?

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.

 

How do bridge loans work?

  1. Work with us to find your next dream home.
  2. Get pre-approved for a bridge loan with a lender of your choice.
  3. Learn more about getting the first six months of your bridge loan payments fronted via the Bridge Loan Advance by Notable.
  4. Sign an exclusive listing agreement with us to sell your current home.
  5. If needed, use your bridge loan to purchase and move into your new home while we sell your current home.
    1. Use concierge services to sell your home faster and for more money! Learn how here.
  6. When your old home sells, simply use the proceeds to pay back the bridge loan and Bridge Loan Advance.

Bridge loans are for you if...

...your money is tied up in your current home. If you need 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’ll use the proceeds to pay the bridge loan back.

...you need to move within a specific timeframe. 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.

...your home requires renovations or improvements before selling. Whether you’re using concierge services 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.

Ready to get started with a bridge loan? Contact us to learn more.

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*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. 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.