What is a bridge loan?
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A bridge loan helps you buy a new home before selling your current one, but it’s just one of several strategies.
First, we check if you qualify for both homes — if you do, cheaper options may be available.
If not, Benchmark offers a low-cost bridge loan at just 1% with flexible terms and easier qualification.
You’ll get six months to sell your current home and a credit toward your refinance after.
It’s a Strategy, Not a Magic Fix
A bridge loan is one possible strategy to help you buy a new home before selling your current one, but it’s not a one-size-fits-all solution. It’s designed to “bridge” the financial gap during that transition, so having the right mindset is key. Make sure you understand all your options and choose the path that best fits your financial situation.
Qualifying for Both Homes Matters First
Before considering a bridge loan, it's important to know if you qualify to carry two mortgage payments at once —
something lenders determine by reviewing your debt-to-income ratio. Because affordability is a challenge for many, alternative options like a HELOC, home equity loan, 401(k) loan, or family gift are often explored first. These routes typically offer a simpler, more cost-effective way to “bridge” the gap without using a traditional bridge loan.
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Benchmark’s In-House Bridge Loan: A Smarter Alternative
If you can’t qualify for both homes, Benchmark offers a simpler bridge loan at just 1% of the purchase price. You can put as little as 5% down, get six months to sell your current home, and your existing mortgage won’t count against you. Plus, you’ll earn a 0.5% credit when you refinance.