Compass Bridge Loans
Compass Bridge Loans Services gives you the financial flexibility to make an offer on your next home without waiting for your current one to sell.
We provide you with access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to 6 months of your loan payments fronted when you sell your home with Lydia Gable Realty Group with Compass.
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.
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
- Work with us to search for your next dream home.
- Get pre-approved for a bridge loan with a lender of your choice, such as Better.com or Freedom Mortgage.
- Learn more about getting the first six months of your bridge loan payments fronted via the Bridge Loan Advance by Notable.
- Sign an exclusive listing agreement with Lydia Gable Realty Group to sell your current home.
- If needed, use your bridge loan to purchase and move into your new home while we work to sell your current home.
- Use Compass Concierge home improvement services to sell your home faster and for more money.
- When your old home sells, simply use the proceeds to pay back the bridge loan and Bridge Loan Advance.