BRIDGE LOAN SERVICES
A simple solution to bridge the gap between the home you have and the home you want.
Compass Bridge Loan Services gets you 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 a Compass agent.
What’s a bridge loan?
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.
Our Solution
After months of research, Compass has selected lenders that are offering competitive rates and dedicated service for Compass clients. Already working with a lender you love? No problem. This unique solution lets you choose the provider that works best for you.
No out-of-pocket costs
Work with a Compass agent to sell your current home and get up to six months of your bridge loan payments and other associated costs fronted — an exclusive offering for Compass clients, regardless of the lender you use.*
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.
How It Works
1.
Sign an Exclusive Listing Agreement with your Compass agent to sell your current home — while you work with them to find your next dream home.
2.
Apply and get approved for a bridge loan with the lender of your choice.
3.
Ask your Compass agent about getting the first six months of your bridge loan payments fronted.
4.
Move into your new home while your Compass agent works to sell your current home.
5.
When your old home sells, simply use the proceeds to pay back the bridge loan and any fronted monthly payments.
Next step: finding a lender
While Compass clients are encouraged to find the best lender for them, The Mark Mannion Team are industry-leading lenders who offer short-term financing and are a part of Compass Bridge Loan Services.
When looking for a mortgage, it's important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home buying or refinancing needs, regardless of how unique your circumstances may be. We can help.
855-MM-BRIDGE (855-662-7434)
[email protected]
Company NMLS #35286
Licensed In: CA, CO, CT, DC, DE, FL, GA, MA, MD, NC, NH, NJ, NY, PA, RI, TN, TX, VA, (more coming soon)
Success Story
Michael A., Seller | San Diego
“I have worked with Lindsay Dunlap on two homes since moving to San Diego. Lindsay exemplifies true professionalism in every aspect. She is very committed and dedicated to finding her clients the perfect home, not to mention she has a phenomenal response time for her clients.”
Individual results may vary. Testimonials are not intended to guarantee the same or similar results.
