The bridge funds the down payment on the new home while you wait for the sale proceeds. Without a signed sale agreement most lenders decline, which leaves a sale-conditional offer as the alternative.
Read the short-term cost
The rate is higher than an ordinary mortgage but the term is short, days to weeks. It is usually the setup and notary fees, not the rate, that dominate the total cost.
Sale documents to confirm
The lender may request an accepted offer, waived conditions, mortgage payout information and notary dates. Without those pieces, bridge financing can become harder or more expensive.
Documents to gather
What the lender will ask for.
Purchase date
Sale date
Available equity
Waived conditions
Mortgage payout
Bridge fees
Frequently asked
Can I get bridge financing if my home has not sold?+
Rarely. Most lenders require an accepted sale with a firm closing date, because that sale is what repays the bridge. Without one, a sale-conditional offer on the new property is the realistic route.
Current rates
Today’s rates, read with their conditions.
These rates are indicative. The one you get depends on your file, the type of mortgage (insured or not) and the lender, and the penalty attached to it matters as much as the number.
Buying, renewing, refinancing or an unusual situation: describe where you are at, even if it is still vague. Mathieu replies with the next steps and the documents to gather.
