Can someone help me understand a Bridge Loan and how it is structured?
Sunday, January 24th, 2010 at
8:14 am
Can someone help me understand a Bridge Loan and how it is structured?
Trying to get info on this …possibly looking at putting up a contract on new house.
This could get me going I am told.
a bridge loan is a loan that spans two properties. Hence a bridge. Most are done when you have a house for sale and there is a lot of equity and the sale is not final and yet you are buying another with the anticipated proceeds when it does sell. So you use a portion of the anticipated proceeds for your down payment and final that sale. You pay interest only on the bridge until your old home is sold then you pay the bridge off
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