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. 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 KMS Team at Compass.
Does a bridge loan make sense for you?
Is your money tied up in your current home?
If you need 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’ll 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
01
Sign an Exclusive Listing Agreement with a KMS partner to sell your current home — while you work with us to find your next dream home.
02
Apply and get approved for a bridge loan.
After months of research, Compass has selected lenders (Freedom Mortgage and Better.com ) 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.
03
Work with us to get the first six months of your bridge loan payments fronted.
04
Move into your new home while we work to sell your current home faster and for more money.
05
When your old home sells, simply use the proceeds to pay back the bridge loan and any fronted monthly payments.
Ready to get started? Give us a call 203.295.4375