Bridge Financing in the GTA
Bridge financing covers the gap when you buy before your current home sells. I set up short-term funding so the timing doesn't cost you the home.
Why bridge financing exists
Closing dates don't always line up. If you need funds for a new purchase before your current home sells, a bridge loan covers the gap until your sale closes.
What I look at
- Your closing dates for both the purchase and the sale
- Your firm sale agreement, which lenders typically require
- The equity in your current home
- How the bridge fits with your new mortgage
How it works
- Start with your goalWe talk about the home you want to buy and map out your purchase and sale dates.
- Arrange the bridgeI set up short-term financing with a suitable lender.
- Repay on saleThe bridge is paid off when your current home closes.
I want you to know what I know, so we make an informed decision together. My aim is a relationship that lasts longer than your mortgage.
Download
Bridge Financing Document Checklist
A one-page list of what lenders usually need for bridge financing.
Common questions
What is bridge financing?
Short-term lending that covers the gap when you're buying a new home before your current one sells.
Do I need a firm sale agreement?
Lenders generally want to see one. I'll confirm requirements for your situation.