Definition of "Bridge Loan"

Lisa Medders real estate agent
Lisa Medders, Real Estate Agent Exp Realty Associates, LLC

A short-term loan, usually from a bank, that 'bridges' the period between the closing of a home purchase and the closing of a home sale. To qualify for a bridge loan, the borrower must have a contract to sell the existing house. This is the same as a 'swing loan.'

 

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