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Bridge Loans

Sellers sometimes need help with buying a home before their current home is under contract. Other times, they need a way to sweeten the deal to entice buyers in a buyers’ market. Preferred Rate has programs to help bridge the gap in financing.

Our Bridge loan programs can help with the purchase of a new home before an existing home is sold. If a seller is unwilling to consider offers with sales contingencies, we have several options to choose from.

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Modern two-story house with garage, ideal for bridge loan financing.
A contemporary two-story home with a spacious garage, perfect for real estate bridge loans and investment opportunities.

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Top military lender

NMP

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Preferred Rate logo on a professional financial website.
Trusted financial services logo for competitive loan and mortgage rates.

Top mortgage lender

Scotsman guide

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The Preferred Rate logo displayed on a financial services platform emphasizing competitive mortgage and loan options.
Preferred Rate logo on a professional financial website.
Trusted financial services logo for competitive loan and mortgage rates.

5-Star Lender

MPA

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The Preferred Rate logo displayed on a financial services platform emphasizing competitive mortgage and loan options.

TOP LENDER

CALHFA

TOP EMPLOYER

DIVERSITY JOBS

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Trusted mortgage services by Preferred Rate for competitive rates and expert guidance.

TOP 100 MORTGAGE COMPANIES

MORTGAGE EXECUTIVE

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Mortgage Professional America

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The Preferred Rate logo showcases a professional financial services brand specializing in mortgage and loan solutions.

TOP 250 LATINO MORTGAGE ORIGINATORS

NAHREP

MOST LOVED MORTGAGE EMPLOYERS

NMP

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TOP MORTGAGE LENDER

Scotsman Guide

TOP MILITARY LENDER

NMP

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TOP 15 VA LENDER

Scotsman Guide

Product highlights

  • Close with Confidence Bridge Loan
    • For borrowers who are under contract with their existing property • Loan amounts to $750,000 • Don’t need a sales contingency • Borrower can use the equity from their current home (pending sale) to fund to the purchase of a new home • Borrower can omit any liabilities connected to the departing residence when qualifying for the new home purchase
  • Debt-Inclusive Bridge Loan
    • For borrowers whose existing property isn’t yet under contract • Loan amounts to $750,000 • Borrower can use a new home • All of the debts for the departing residence, including any payments on the bridge loan (if any are required), are factored into the borrower’s total DTI when purchasing the new home
  • HomeLight and Knock Buy Before You Sell Programs
    • Access equity of departing residence • Loan Amounts up to $2M • 620 Minimum Credit Score • Up to 70% CLTV • 0% Interest loan, no monthly payments • FNMA/FHLMC Guidelines
Borrower advantages
  • We can help them purchase a new home before their existing home is sold, or allow for a little extra time and flexibility in selling their current home
  • We can help them leverage the equity from their current home (that is a pending sale) and use the funds to purchase a new home
  • If a seller is unwilling to consider offers with sales contingencies, they can close with confidence through our Bridge Loan program to present the strongest offer
  • HomeLight or Knock will enter into contract on the departing residence, enabling the departing residence PITIA expenses to be excluded from DTI on new primary residence purchase
Realtor advantages
  • Expand the inventory of options available by providing your buyer the most flexibility for purchasing a new home while selling their current residence.
  • Allows the borrower to act quickly to take advantage of bargains in the real estate market or in securing their dream property
  • Allows the borrower to act quickly to take advantage of bargains in the real estate market or in securing their dream property
Preferred Rate helps first-time homebuyers with easy mortgage options.
Jessica Thompson shares her positive experience with Preferred Rate for her first home purchase.

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