Compass Bridge Loan Services
WHAT IS A BRIDGE LOAN?
If you’re looking to move but your money is tied up in your current home, you likely feel that you need to sell before you buy. Such is the case for many San Franciscans who have purchased a home in the last 35 years and have steadily seen their net worth grow—but only on paper.
One solution is to cover your new home purchase with a “bridge loan” until your old home sells. 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.
Now, it’s easier than ever to bridge the gap between the home you have and the home you want. With Compass Bridge Loan Services, you’ll get access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your loan payments fronted when you sell your home with us.
HOW IT WORKS
First, apply and get approved for a bridge loan with the lender of your choice. You can bring your own lender, or work with a vetted Compass partner. If you sell your home through us, we’ll work on getting your first six months of payments fronted by Compass.
With your bridge loan secured, you can purchase and move into your new home while making improvements to your old house through Compass Concierge. When your listing is sold, use the proceeds to pay back the bridge loan and any fronted payments.
Using Compass Bridge Loan Services, you can sell on your own terms from the comfort of your new home, while your old house sells at the optimal time in its optimal condition.
Fill out our Seller Worksheet to start the no-pressure conversation.