Make a seamless transition to your new home

With a bridge loan from Better Mortgage you can make an offer on your new home without being rushed to complete the sale of your current one — just use our short-term loan for your new home’s down payment. Even better? Your bridge loan rate could be as low as 6% (7.039% APR). Terms and conditions apply. See FAQs for pricing and rate details.

Why you should get a mortgage with us too

Enjoy additional benefits when you get your new mortgage from us as well.

  • Get a discount on your bridge loan

    If you choose to work with Better Mortgage for your mortgage, you’ll save 2 percentage points on your bridge loan rate.

  • Enjoy a more seamless process

    Getting both loans from one lender makes the entire process easier.

  • Close your new home faster

    A smoother process with the two loans means you can close faster on your new home.

Enter how much you need to make your down payment

It’s the bridge loan amount going toward the purchase of your new home.


Why Better Mortgage is better

  • No commission

    We don’t work on commission. We work to find the best loan for your needs, not ours.

  • Easy digital process

    It’s easy to log in at any time and check on the status of your loan.

  • Award-winning service

    Our team of Mortgage Experts can guide you throughout the process.

Better Mortgage is backed by

  • Goldman Sachs
  • American Express
  • Citi

We’re here to help

If you have any questions about getting a bridge loan, you can always reach out to one of our Mortgage Experts. Our team is here to help make the whole process easy for you.

Frequently asked questions about bridge loans

  • What is a bridge loan and how does it work?

    A bridge loan is a short-term loan to help you purchase your new home without having to wait for the sale of your current one. Homebuyers use the equity they’ve built up in their current home to finance the down payment on their new home.
  • How is a bridge loan different from a Home Equity Line of Credit (HELOC)?

    HELOCs can be used for different needs with multiple withdrawals and repayments. Bridge loans are single transfers and have to be paid back in full when you sell your current home. They can only be used for a down payment on your new home.
  • What are the costs and terms associated with bridge loans?

    Bridge loans are usually processed faster than other real estate loans, but have shorter terms and higher interest rates. A bridge loan from Better Mortgage has a 12-month maximum term at the rates outlined below (360 months for Texas). If you work with us on the new mortgage, we offer a 2% discount on your bridge loan rate. You can also receive a 4% discount on your rate if you pay 1 point upfront, which is equivalent to 1% of the loan amount you need. It will be paid from the proceeds of your bridge loan. Terms and conditions apply*.

    Bridge Loan Points New mortgage from Better Mortgage New mortgage from other lender
    1 point paid upfront 6% (7.039% APR) 8% (9.050%)
    0 points paid upfront 10% (10% APR) 12% (12% APR)
  • What is a non-contingent offer and why is it helpful?

    A non-contingent offer on a new home is one that has no conditions attached to the sale of your current home. So for example, with a bridge loan, you’ll have money for a down payment, which means you won’t need a sale contingency saying you must sell your current home first.

    Non-contingent offers are helpful because they put you in a more competitive position against other buyers who are paying in cash or have no contingencies.

  • If I get a bridge loan from Better Mortgage, do I have to get my new mortgage loan from you as well?

    There’s no obligation to get both loans from us. If you decide to go with another lender, you’ll need to let them know about the bridge loan so they can account for it in their loan approval process.
  • How does Better Mortgage determine the maximum bridge loan amount I can qualify for?

    The 3 primary factors are:
    1. The equity available in your current home
    2. Your debt-to-income ratio which includes your existing loan, bridge loan, new loan, and any other debts
    3. Your credit score
  • Is there any limit to the bridge loan amount I can get?

    The maximum loan size is $1,500,000 with limitations on the loan-to-value ratio of your existing home.
  • Does getting a bridge loan impact my ability to get a standard mortgage for the new home?

    The bridge loan may push your debt-to-income ratio over the allowable limit (typically 43–50%). However, at Better Mortgage, we offer a new mortgage product that allows us to exclude the bridge loan against your current home so there’s more flexibility with your DTI.
  • What are the duration and repayment terms for a bridge loan from Better Mortgage?

    The lesser of either i) 12 months (360 months for Texas); ii) the time taken to sell your current home; iii) 60 days after the funding of your loan if you do not have a listing agreement with Compass for your current home; and iv) 10 days after the listing agreement for your current home with Compass expires and no new agreement is signed.
  • What do I need to do to qualify for this special bridge loan offer from Better Mortgage?

    Better Mortgage has developed this special offer for Compass customers. In order to qualify, you need an exclusive listing agreement with a Compass agent.

*The APRs listed are estimates and do not include all applicable fees. The APR on your Loan Estimate will include fees applicable to your loan and may differ.