ServicesBridge Loans
Bridge Loans in Pflugerville
Buying before you sell gets easier when the equity you already hold covers the gap. A bridge loan turns that equity into money for the next purchase, so your offer doesn't wait on a sale. We arrange it, then keep checking in until the old property sells and the bridge is cleared.
How Bridge Financing Works
A bridge is a short-term loan secured by the property you own today. It unlocks your equity ahead of the sale. Put it toward the down payment on the next place, or use it to pay off your current mortgage so the new loan is easier to qualify for.
It makes sense when your money is fine but the timing isn't. Many sellers skip offers that only work if the buyer's own sale closes first. With a bridge in place, you can leave that condition out and make an offer that stands on its own.
Some borrowers are better off without one. If your current property could take a long time to sell, or carrying extra payments for a few months would strain you, we'll be upfront about it. We can also look at other routes, such as a HELOC or a conventional loan written with a sale contingency.
How We Handle Your Bridge Loan
- 01
A straight answer on fit
First we look at your equity, your income and how quickly your current place is likely to sell. If a bridge is the wrong tool, we tell you on that first call.
- 02
Two loans, one plan
Your bridge and your new mortgage depend on each other. We work out both sets of numbers at once so the payments and closing dates line up.
- 03
Terms you can read
The rate, fees, term and payoff steps all go in writing. You'll know ahead of time exactly what happens the day your old property sells.
- 04
Background for fast deals
Our company is NMLS licensed for 10 years, with 11 years in the mortgage industry behind it. Bridge loans run on short deadlines, and that time in the business helps us keep documents moving.
- 05
Check-ins after you close
We don't disappear once you have the keys. While your old place is listed, we call to see how it's going, go over how the payoff works and help you adjust if the sale drags.
Questions about Bridge Loans?
Call(512) 515-9091When a Bridge Loan Makes Sense
Your contingent offers keep losing
When sellers keep picking offers that don't depend on another sale, taking that condition off yours can put you back in the running.
Your cash is locked in equity
You own a good share of your current property but have little cash for a down payment. A bridge puts that equity to work now.
You'd rather skip the in-between move
Selling first often means a short lease or a temporary stay somewhere while you shop. Buying first means packing up only once.
Your current property should sell quickly
A bridge works best when the place you're leaving is well kept and priced right. A faster sale means fewer months of interest.
From First Call to Final Payoff
- 1
Pre-qualification by phone
We go over what you own, what you still owe, your income and what you plan to buy. By the end of the call you'll have a good idea whether a bridge can work.
- 2
Equity and value check
We estimate what your current property should sell for and how much of that equity can back a loan. That number sets how large the bridge can be.
- 3
Paperwork and underwriting
We gather your documents and send the bridge and your new mortgage to underwriting as one package. Meet us at our office, or handle each step with us by phone and video.
- 4
Closing on the purchase
Once the bridge funds, you close on the new place and move in. Before you sign, we go through the payoff terms with you again.
- 5
Staying in touch until it's paid
We keep calling while your old property is for sale. When it closes, the bridge gets paid from that sale, and we confirm with you that it's fully settled.
What Sets the Price of a Bridge Loan
Short loans with more risk tend to carry a higher rate and more fees than a regular 30-year mortgage. That's the trade for buying on your schedule. Your numbers come from your own equity, credit and sale plan, and we'll walk through them by phone and send them to you in writing.
- How much equity you hold
- The more of your current property you own outright, the smaller the bridge is next to its value. Lenders see that as less risk, which tends to help your terms.
- Amount borrowed and length
- A bigger loan or a longer term costs more overall. Some bridges bill interest each month, while others add it to the balance paid off at your sale.
- Credit and steady income
- For a few months you may carry the bridge and a new mortgage at once. Good credit and income you can document make that easier to approve and cheaper to carry.
- Time on the market
- Each month your old place goes unsold is another month of interest. Pricing it to sell from day one is one of the simplest ways to keep the total down.
Bridge Loan Questions We Hear Often
Will I be paying two mortgages at once?
Maybe, for a few months. If the bridge pays off your current loan, you'd have the bridge plus the new mortgage. Some bridges let the interest build and get settled when your sale closes. We lay out your monthly costs before you agree to anything.
How long do I have to pay it back?
Bridge terms are short, usually a few months and sometimes close to a year. The plan is to clear it when your current property sells. We set the term around a realistic sale timeline, not a hopeful one.
What happens if my property takes longer to sell?
That's the biggest risk with a bridge, so we plan for it before closing. We talk through lowering the price, asking for more time and what extra months would cost you. While it's listed, we keep checking in so a slow market doesn't surprise you.
Should I use a HELOC instead?
Sometimes that's the better move. A HELOC may cost less, but it has to be opened before you list, since lenders usually won't approve one on a property already for sale. A bridge is made for the gap between buying and selling. We'll put the two side by side for you.
Can you help if I'm buying outside the city?
Yes. Our borrowers come from Pflugerville and nearby towns like Round Rock, Hutto and Georgetown. Sit down with a loan officer at our office, or handle every step by phone or video if that suits you better.
Let's Look at Your Buy-First Plan
Give us the basics on what you own now and what you'd like to buy next. We'll check whether you pre-qualify for a bridge and explain every term in plain words.