Do you know there’s a way for you to buy first & sell later —without monthly payments?
Smooth Move Bridge Loan Program
IN A NUTSHELL
This program is designed to help current homeowners buy a new home before selling their current one by providing advance funds from their current home’s equity.
Our bridge program allows also use some of the funds for the down payment of the new home or repairs to get their current home ready to sell. There are no monthly payments, and the loan is paid off when their home sells or after 12 months. With up to 75% of their home’s value available, buyers get the flexibility and funds they need to move smoothly into their new home.
This flexible bridge loan gives homeowners the funds they need to secure their new home while managing their current property sale.
Realtors: Have questions or need details about your borrower’s scenario? Reach out today!
REQUIREMENTS
- Full Income W2 or Self-Employed Tax Returns
- 12 Months Bank Statements as income OK
- 720 Mid. Credit Score
- Min. Loan Amount $250,000
- 2 Years No Late Payments
- 5 tradelines
- Primary Residence Up to 75% LTV for loan amounts between $1MM and $1.5MM.
- Up to 65% LTV for loan amounts between $1.5MM and $2MM.
- DTI <= 50%
- Single Homes, Condos, PUD, Townhomes (No Rural)
- BK, FC,SS, DIL 4 years
- Property MUST be listed in the MLS
How Tony Used a Bridge Loan to Buy His New Home Without Cash
- Tony found his dream home for $450,000, but there’s a problem—he doesn’t have cash for the
- 5% down payment ($22,500) or the $15,000 closing costs.
- However, Tony owns a home worth $350,000, and he only owes $200,000 on it. That means he has $150,000 in equity —but he can’t access it until he sells his home.
Bridge Loan Calculator
Loan A: Bridge Loan on Departure Property
Calculate cash out available for new property purchaseResults
Loan B: New Property Purchase Loan
Calculate new purchase loan amount and LTV.Loan Structure Results
Estimated New Monthly Payment
Estimates only. Taxes and insurance are assumed at 1% of the purchase price per year each; the new loan is amortized over 30 years.
Frequently Asked Questions
What is the Smooth Move Bridge Loan Program?
The Smooth Move Bridge Loan Program helps current homeowners buy a new home before selling their current one by providing advance funds from their current home’s equity. This program allows the use of funds for the down payment of the new home or repairs to get the current home ready to sell.
Are there any monthly payments with the bridge loan?
No, there are no monthly payments with the bridge loan. The loan is paid off when the homeowner's current home sells or after 12 months.
What percentage of my home's value can I access with this loan?
Homeowners can access up to 75% of their home’s value for loan amounts between $1MM and $1.5MM, and up to 65% for loan amounts between $1.5MM and $2MM.
What are the requirements for qualifying for the bridge loan?
Requirements include a full income verification, a minimum credit score of 720, a minimum loan amount of $250,000, and no late payments in the last 2 years, among others.
What types of properties are eligible for this loan?
Eligible properties include single homes, condos, PUDs, and townhomes, but not rural properties.
How can I calculate potential costs associated with the bridge loan?
You can use the Bridge Loan Calculator provided on the page, which estimates costs based on the purchase price and assumes taxes and insurance at 1% of that price per year.