Bridge loans · 18 states
Buy your next home before you sell this one.
A bridge loan uses the equity in the home you own now, so you can buy the next one, fix up the current one, or both, without waiting for a sale.
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At a glance
How our bridge loans work
- Primary, second home or investmentAll three property types are eligible.
- Already listed? That's fine.Your home can be on the market when you apply.
- Purchase, improvements or bothUse it for your next home, to fix up your current one, or both.
- Typically 11 monthsMost people pay it off when the home sells.
- Interest-only paymentsYou aren't paying down principal while you're between homes.
- In-house, plus KnockWe run bridge loans ourselves and also offer Knock's buy-before-you-sell program.
The usual path
From your current home to your next one
- Talk it through. Tell us what you own, what you owe and what you want to buy. We'll tell you plainly whether a bridge loan fits, or whether another option is better.
- Tap your equity. The bridge loan uses the equity in your current home.
- Buy or improve. Make your offer on the next home, fix up the current one, or both.
- Sell and pay it off. When your home sells, the bridge loan is paid off.
Questions
Bridge loan questions, answered plainly
What is a bridge loan?
A short-term loan that uses the equity in a home you already own. It lets you buy your next home, or improve the one you have, before that home sells. When it sells, the bridge loan is paid off.
Can I get a bridge loan if my home is already listed for sale?
Yes. A home that's already on the market can still be used for a bridge loan.
What can I use the money for?
Buying your next home, improving a home, or both. Some buyers use it for the down payment on the new place; others use it to fix up their current home so it sells faster.
How long is a bridge loan?
Typically 11 months. Most people pay it off when their current home sells.
What are the payments like?
Payments are interest-only during the bridge, so you aren't paying down principal while you're between homes.
Which properties qualify?
Primary homes, second homes and investment properties.
Where do you offer bridge loans?
In all 18 states where Neil is licensed: Alabama, Arizona, California, Colorado, District of Columbia, Delaware, Florida, Georgia, Illinois, Maryland, Missouri, North Carolina, New Jersey, Pennsylvania, South Carolina, Tennessee, Texas, Virginia.
Do you work with Knock?
Yes. We run bridge loans in-house, and we also offer Knock's buy-before-you-sell program. We'll tell you which one fits your situation.
Not everyone will qualify. Bridge loans are subject to credit approval, underwriting and program guidelines, which can change. Ask us what applies to your situation.
Thinking about your next move?
Call, message or book a time. One conversation and you'll know whether a bridge loan makes sense for you.
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