Compass Bridge Loans:
Bridging the Gap Between Old Home and New
Sometimes you’re not ready to sell your current home but you want or need to buy a new home. A bridge loan is a fantastic option for those who want to buy before they sell. Compass Bridge Loan Services provide clients with competitive rates and support with established industry leaders. And if you sell with a Compass agent, you can even get up to six months of your loan payments fronted!
What is a bridge loan?
A bridge loan is a short-term loan based on the equity of your current home. This gives you the ability to put a down payment on a new home without selling your current home first—no rush, no pressure, and no fear of your home selling before you find a new one!
Compass partners with some of the nation’s best lenders to bring our clients competitive rates and dedicated service. Already have a lender? That’s great; this program lets you choose the lender that’s best for you.
Does a Bridge Loan Make Sense for You?
Your equity is tied up
Buying a new home can be tricky if your current home hasn’t sold yet. A bridge loan gives you the freedom to buy independently of your home sale.
You want to move on a specific timeline
A bridge loan gives you the freedom to move when you need to, without the worry of waiting for your old home to sell first.
Your home needs work
If your home isn’t ready to sell because it needs some work, it might be easier to buy a home and move out first, so you don’t have to live in a construction zone.
Ready to Get Started?
If you want to sell before you buy, we can help! We can connect you with a bridge loan lender to secure great rates and dedicated client service. Contact us today, and let’s talk about your needs.