A simple solution to bridge the gap between the home you have and the home you want.

A bridge loan is a short-term loan that uses the equity from your current home to help you make an offer on a new one, without rushing to sell.

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Does a bridge loan make sense for you?

Is your money tied up in the equity of your current home?

If you want to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home — like for a down payment or mortgage payments. Once your current home sells, you can use the proceeds to pay the bridge loan back.

Do you need to move within a specific timeframe?

If you’re relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.

Does your home require renovations or other work?

Whether you’re using Compass Concierge to increase your home’s value, or are making improvements on your own, it may be easier to have construction work done when you’re out of the house. A bridge loan can help you move faster so you’re out of the house while those improvements are being completed.

Information regarding lenders which offer short-term Bridge Loan financing is provided for informational purposes only and does not constitute an endorsement of any particular lenders referenced. Compass is not a lender and cannot guarantee that these institutions will be able to assist and does not assume any responsibility as to the performance of services to be provided by these institutions. There are no requirements that you obtain a loan from these providers to participate in any other Compass programs (such as Compass Concierge). Speak to your Bridge Loan lender about all the costs you may be responsible for in connection with your Bridge Loan.

How Do Bridge Loans Work?

1

Inquire directly with a bridge loan lender, such as Main Street Home Loans, to see financing options and if you qualify.

2

Apply to get pre-approved for a bridge loan with the lender of your choice, while searching with your Compass agent for your next home.

3

If approved for a bridge loan, learn more about getting the first six months of your bridge loan payments fronted via the Bridge Loan Advance.

4

Use Compass Concierge home improvement services to sell your home faster and for more money.

5

Move into your new home while your Compass agent works to sell your current home.

6

When your old home sells, simply use the proceeds to pay back the bridge loan and Bridge Loan Advance.
What is a bridge loan?

A bridge loan is a short-term loan that uses the equity in your current home to help you purchase a new one. It allows you to make an offer on a new home without having to rush the sale of your existing property.

Who can benefit from a bridge loan?

Homeowners who need to move but have most of their money tied up in the equity of their current home, or those who need to relocate within a specific timeframe, can benefit from a bridge loan. It also helps if your current home requires renovations before selling.

How does a bridge loan work with Compass Concierge?

If you’re approved for a bridge loan, you can use Compass Concierge to fund home improvements while you move into your new home. Once your current home sells, you repay the bridge loan and any advance payments.

How do I apply for a bridge loan?

Start by contacting a bridge loan lender, like Main Street Home Loans, to discuss financing options and pre-approval. Then work with your Compass agent to find your next home and coordinate the loan with your sale.

Are bridge loans guaranteed by Compass?

No, Compass is not a lender and does not guarantee bridge loans. Information about lenders is provided for informational purposes only, and costs, terms, and approvals are determined by the lender.

Can a bridge loan help with home renovations?

Yes. A bridge loan can give you the financial flexibility to move out while making improvements to your home, whether through Compass Concierge services or on your own, potentially helping you sell faster and for more money.

When do I repay the bridge loan?

The bridge loan is repaid after your current home sells. You can also repay any advance payments provided during the first months of the loan through the sale proceeds of your home.