ServicesBridge Loans
Bridge Loans in Georgetown, TX
Ready to buy while the current place is still listed? A bridge loan lets you borrow against the value you've built in the property you own today, so you can fund the down payment or the purchase, write a stronger offer and clear the balance once your sale closes.
What a bridge loan does, and when it makes sense
A bridge loan is short-term financing secured by the property you plan to sell. It gives you cash for the next purchase while the current place is still on the market. Terms usually run a matter of months, and the balance gets paid off from your sale proceeds at closing.
The best candidates have steady income, good credit and one real obstacle: timing. You might be moving up from a place in Round Rock, or your buyer keeps pushing back their closing date. A bridge loan lets you make an offer without a sale contingency, and that tends to stand out to sellers weighing several offers. If you doubt you can sell at a fair price, it's the wrong tool, because paying it off depends on that sale going through.
We set the bridge loan side by side with your other choices, such as a HELOC or selling first and buying after. You'll know what each path costs, and what happens if your sale runs long, before you sign anything.
What our bridge loan work covers
- An equity check on the property you own
- We look at what you owe and what the place is likely worth. That number sets how much you can borrow against it.
- A plan for both loans
- Most borrowers will carry a bridge loan and a new home loan at the same time for a while. We line up the bridge loan with the long-term mortgage on the new purchase so the two fit together, and we show you the monthly payments for each.
- A clear exit date
- Every bridge loan needs a payoff plan. We set a term that gives your sale room to close, and we explain what extensions look like if it takes longer.
- Written terms in plain language
- You get the rate, fees and payment structure itemized on paper. If a payment is interest-only during the bridge period, we say so and show what that means in dollars.
- Coordination with your agent and title company
- We keep your real estate agent and the title company updated so both closings stay on schedule.
Signs a bridge loan may be right for you
Sellers keep choosing other offers
An offer tied to another sale often gets passed over. Having your down payment ready ahead of time means you can write one without that condition.
Your money is in the property, not the bank
You've built solid value in the place you own, but your cash savings are thin. A bridge loan lets you put that built-up value toward the next down payment.
You'd rather move only once
Selling first can leave you in a temporary rental, packing up twice. Buying first means one move.
Your buyer's date lands after yours
When your sale is under contract but closes later than your purchase, a bridge loan carries you through those weeks or months.
A builder has set your closing date
New construction rarely waits on your sale. A bridge loan keeps you on the builder's schedule even when your sale runs late.
What sets the price of a bridge loan
A bridge loan is short and depends on a sale that hasn't happened yet, so it generally costs more than a standard mortgage. Where your number lands depends on a few specific things in your file. Before you decide anything, we put every fee on paper so you can see the full picture.
Equity in the property you own now
The more value you have built up, the less risk the lender takes on. That tends to mean better terms and a higher amount you can borrow.
How long the bridge runs
A longer term gives your sale extra room to close, but each added month brings more interest. We help you choose a length that fits a realistic sale without paying for time you won't need.
Your ability to cover overlapping payments
For a stretch, you could be paying on the old property and the new one at once. Lenders look closely at credit history and steady income for that reason, and stronger numbers can bring the rate down.
How payments and fees are set up
Some bridge loans ask for interest-only payments, while others add the interest to the final payoff. Origination, appraisal and title charges also factor in, and each one appears as its own line.
How the process works, step by step
- 1
A conversation about your timeline
On the phone or by video, we talk about both properties, your target dates and your budget. A loan officer explains whether a bridge loan or another option fits better.
- 2
Application and documents
You complete a loan application with income, assets and details on your current mortgage. We tell you exactly which documents we need so nothing gets requested twice.
- 3
Valuation and approval
An appraisal or valuation confirms your equity. Once underwriting approves the loan, you get written terms to review before you commit.
- 4
Closing on the new purchase
The bridge loan funds alongside the purchase of your next place. You move in while the old property is still on the market.
- 5
Payoff when your sale closes
At the closing on the old property, the bridge loan is paid from the sale proceeds. The title company handles the payoff, and we confirm it is complete.
Common questions about bridge loans
What if the old property is still on the market when the bridge loan is due?
This is the biggest risk with a bridge loan, so we cover it before you apply. Depending on the lender, choices may include extending the term, adjusting your list price or moving the balance into a longer-term loan. We build some extra time into the term from the start to make that less likely.
Could I end up paying on more than one loan at a time?
For a short period, that's common. You might have your current mortgage, the new home loan and the bridge payment all due in the same month. We walk you through the combined monthly amount before you apply so you know what to plan for.
Should I look at a HELOC instead?
It depends on where you are in the process. A HELOC is often cheaper, but it usually has to be in place before you list, since many lenders won't open a line on a property that's for sale. If you're still early, our HELOC page explains how it works, and a loan officer can line it up against a bridge loan for you.
Do bridge loans work for rental or flip properties?
Most bridge loans are designed for moving from one primary residence to the next. If you're an investor buying something to renovate or resell, a hard money loan is usually the better match, and we can talk through that option when you call.
How long does it take to close a bridge loan?
Timing mostly comes down to the appraisal and how fast your documents arrive. Once we've looked over your file, we give you a realistic closing estimate and keep your agent in the loop so your purchase date stays on track.
Planning a move with two closings?
Share the details of the place you're selling and the one you want, along with the dates you're working toward. We'll lay out how a bridge loan would play out for you and start your loan application while we're talking.