# Bridge Loan

Source: https://www.gatewayfirst.com/mortgage/specialty/specialty-loans/bridge-loan

Temporary Fixed Rate Second Lien loan which enables borrowers to acquire a single-family stand-alone dwelling prior to the sale of their current, primary, residence.

## Bridge Loan
### What is a Bridge Loan?

A bridge loan uses your existing property as collateral to provide funds for a down payment for a new home. Once the old property sells, the loan is paid off. These short-term loans typically last 6-12 months, with flexible repayment options.

### When to use Bridge Loans:

- **Buying Before Selling: **Secure your new home without contingencies.
- **Avoiding Market Timing Stress:** Buy without rushing to sell.
- **Bidding Wars: **Make competitive, non-contingent offers.

#### [Contact us](/mortgage/get-started) today to learn how a Bridge Loan can help you!
### Helpful Resources
- [Homebuyer's Guide](https://downloads.ctfassets.net/67qif86ju9cg/4sw8jmk5NwMI2CiRo3yfn7/51bcb7decfcf6611580a8dbae1e86792/Homebuyer_Booklet_Final_03.25.21.pdf)
- [Our Blog](https://www.gatewayfirst.com/blog)
- [Loan Estimate 101](https://www.consumerfinance.gov/owning-a-home/loan-estimate/)
- [Closing Disclosure 101](https://www.consumerfinance.gov/owning-a-home/closing-disclosure/)
- [Calculators](https://www.gatewayfirst.com/calculators)
- [Documents Checklist](https://assets.ctfassets.net/67qif86ju9cg/6NryX4QvRaqFUPHwFmyt5D/d39643f18388137bd07152d286efef09/Loan_Docs_Needed_Checklist_FINAL_2.3.21.pdf)
- [Closing Checklist](https://assets.ctfassets.net/67qif86ju9cg/4u4XdL2TWAWhnmSzCtDdhr/c464a349d188abc6d5a86b6101745985/GatewayLoan.com-Assets_Closing-Checklist_2.3.21.pdf)
- [Benefits of Pre-qualification](https://www.gatewayfirst.com/blog/benefits-of-pre-qualification)
- [Find a Loan](https://www.gatewayfirst.com/personal/loans)
Published: 2025-01-10T19:51:11.643Z