Bridge Loans

A Bridge loans allow home buyers to take out a loan against their current home to buy a new home. This helps the home buyer to get a new house before their current home is sold.

When used for real estate, a bridge loan requires a borrower to pledge their current home as an asset for collateral to secure the debt. The borrower must have at least 20% equity in the home being pledged.

Bridge loans are suitable for those people who have to move out from one state to another per their job requirement and they don’t have ample time to sell their house and get new home in the new place. Bridge Loan allows a home buyer ample time to sell the old house and use it to pay off the new house upon sale.

Bridge loans also tend to have higher interest rate and typically last between six months to one year. Therefore bridge loans are best for borrowers who expect their current home to sell quickly. Apply today for a Bridge Loan!

About the Author: Ahsan Bashir is an experienced Tax Consultant based in Irving, Texas, with over 25 years of expertise spanning Taxation, Accounting, Business Lending and Mortgage, Risk Management, Business Insurance, and Business Consulting. Through his firm, Z-Tax & Accounting, he provides comprehensive financial services including Individual and Business Tax Preparation, Bookkeeping, Payroll Processing, and Business Consulting. As an Enrolled Agent authorized to practice before the Internal Revenue Service (IRS), and an IRS Certifying Acceptance Agent (CAA), Ahsan Bashir delivers trusted, professional solutions tailored to the unique needs of both individuals and businesses.

NMLS: 1965714, NPN: 7702637, PTIN: P01280330, TX Online SOS Notary ID: 126282896

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