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• About Us  • View Testimonials  • Construction Programs  • Construction rates  • Comparing Options  - Loan offers from different    banks  -Construction cost estimates  -Building new or remodeling    VS buying an existing home  -Being my own contractor   VS using a general contractor  - Get Answers  • Educational Resources  - ABC's of Construction    Financing  - Stick-Frame Home    Information  - Log/Timber-Frame Home    Information  - Modular Home    Information  - Lending Dictionary  - Construction Dictionary  • Bank  - Refer a customer for a    construction loan  - Learn more about    construction loans  - Receive consultation on setting    up our own construction    loan program(s)  - Get added to the Construction     Advisors network of lenders  - Get Answers  • Contact US   What Is a Bridge Loan? A loan that "bridges" the gap between the purchase of a new home and the sale of the borrower's current home. The borrower's current home is used as collateral and the money is used to close on the new home before the current home is sold. They usually run for a term of six months. The unfortunate thing about bridge loans is that it can stick you in a position where you are forced to sell your home for less than what you can at times. How do I qualify? The only difference between a bridge loan and qualifying for a construction loan is that you have an appraisal done on your existing home that is listed for sale. Most lenders will give you credit for up to 80% of the appraised value of that home. For example, you have a home for sale and it appraises for $100,000 then the lender would lend you a maximum of $80,000. You then have to subtract any mortgages you may owe, closing costs, realtor fees, etc. When is a bridge loan right for me? A bridge loan is only right when you are 100% certain that you have no other options. Experience the Construction Advisors difference today —Experience the Construction Advisors difference today —Contact Us to get started!

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