Financial Resources While Selling A Home: Bridge Loans

Selling a home is often stressful in part because you’re simultaneously buying a home. If you buy a new home before you sell, you won’t yet have the financial support of your sale to assist in your new purchase.

In that instance, a bridge loan can help. A bridge loan is a short-term loan that assists you with the new purchase, especially when it comes to closing costs. Although these loans have higher interest rates, they can help you move quickly.