Mortgages Analyzed
Mortgages Analyzed
Mortgages Analyzed
 
Bridge Loan

What is Bridge Loan?

Definition
A mortgage loan is a short term loan with the expectation that the borrower will obtain permanent financing.
What It Means
The objective is to cover an interim period before a more permanent financing can take place. For example, a borrower may obtain a bridge loan while moving from one house to another. In that case, the bridge loan would be obtained for the new home with the expectation that the proceeds from the sale of the existing home would pay off the bridge loan.
Other Names
Swing Loan
Category
Product

Related Terms

  • Construction Loan: A mortgage loan that is extended to borrowers that seek to construct a building on a vacant land and is secured by vacant land and proposed improvemen... Read More
  • Hard Money Loan: A mortgage loan that is offered by private investors or non-banking organizations and which is primarily underwritten against the property.... Read More
  • Private Money Loan: A mortgage loan that is offered by private investors or non-banking organizations and which is extended based on the personal relationship with the bo... Read More
  • Subprime Loan: Subprime loan is a mortgage loan that is offered to borrowers with significant default risk.... Read More
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