Buy your next Texas home without having to sell first.

A bridge loan is a short-term loan, typically 6 to 12 months, that uses the equity in your current home to help fund your next purchase. It covers things like your down payment (and sometimes closing costs), allowing you to buy first and sell after. Once your home sells, the loan is paid off.

Most programs allow you to access up to 80% of your homes equity, minus what you still owe. Example: You have a home that is worth $400k and your mortgage left is $200k, then your equity is $200K. A bridge loan at 80% could give you access up to $160K to use toward your next home.

Since bridge loans are short-term financing, the rates are usually about 1-2% higher than standard mortgage rates. However, many buyers see the value in being able to make a stronger offer and avoid rushing the sale of their current home.

Yes, but most bridge loans are set up as interest-only, which keeps the monthly payment lower. There are some options that even allow payments to be deferred and settled when the loan is paid off. The structure of the bridge loan is to be a temporary solution.

There are extension options available, however, most bridge loans typically run 6-12 months. If your home takes longer to sell, you may have options like extending the term or transitioning into a longer-term solution like a HELOC or second mortgage. We will walk you through to find the solution that best fits you.

Absolutely, that's actually the most common scenario. The bridge loan is based on your equity (home value subtracted from balance). During the process, you may temporarily carry your current mortgage, the new mortgage, and the bridge loan, so your DTI will be reviewed carefully to make sure everything lines up.