Finalize Your Home Purchase

 A bridge loan ( using your home  for a down payment to purchase another)  can be a useful financial tool for several reasons:

1. Facilitates Home Purchase Before Sale: If you’re buying a new home but haven’t sold your current one yet, a bridge loan can provide the funds needed for the down payment on the new property. This allows you to move forward with the purchase without waiting for your current home to sell.
2. Covers Temporary Financial Gaps: Bridge loans can help cover temporary gaps in financing. For example, if you need to make repairs or improvements to your current home to increase its market value before selling, a bridge loan can provide the necessary funds.
3. Avoids Contingency Clauses: In competitive real estate markets, sellers may be less willing to accept offers with contingency clauses (e.g., the sale is contingent on the buyer selling their current home). A bridge loan can eliminate the need for such clauses, making your offer more attractive.
4. Flexibility in Moving: With a bridge loan, you can move into your new home before selling your old one, reducing the stress and logistical challenges of moving.
5. Potential for Better Financing Terms: By using a bridge loan to secure your new home, you might be able to negotiate better financing terms for your long-term mortgage, as you won’t be under pressure to sell your current home quickly.
6. When your loan is approved, Closing in Less than 15 days.
7. Your new mortgage with Guild Mortgage comes with much better interest rates and lower mortgage payments than your average rates based on your credit score.
8. Conventional Financing: You will be eligible to recast your mortgage after 6 months of mortgage payments on your new home. What is recasting? Click Here
9. HOT!  FHA Seller: As of 04/24/2026, we now offer FHA Bridge Loans with 620 credit scores - Using the higher of three scores.

Scenario:
A borrower finds their dream home, but hasn’t sold their current house yet.

How the bridge loan helps:

• Use up to 75-80% of the home equity ( minus the first mortgage amount)  from the current home for the down payment on the new home
• Allows you to  buy first, sell later
• No mortgage payments on your current home, or no monthly payment on the bridge loan.
• The fee of 2.2% is paid on the day you sell your home. Details and costs will be provided.
• There is NO interest rate on the  Bridge Loan

Outcome

You don’t miss out on the new home due to timing. Short-term solution (typically 3–6 months, until your home is sold)

Easier to qualify and less stress 

Let’s say your home is worth $500,000. With a bridge loan, you may be able to access up to 75% of that value, or about $375,000.

After paying off your current mortgage balance of $200,000, you could have around $175,000 available to use toward the down payment on your next home.

You can tap into your home equity now—so you can buy your next home before selling your current one.

  Eligible Proceeds:

• Down Payment for New Primary Residence: You can use up to 75-80% of your current home equity as a down payment for purchasing a new primary residence. This option offers you better rates and lower payments on your new purchase.
• Bridge Loan Assistance: Our bridge loan can help cover closing costs and prepaid expenses.
• Home Repairs: You may be allowed up to $35,000 for repairs on your current home before selling it, potentially increasing your home’s value.
• Moving Expenses: An allowance is provided for moving expenses.
• Pay off Bills: If needed to qualify for the Guild mortgage

 Loan Details:

• Loan Amount: You can borrow between $40,000 and $500,000.
• No Payments Required: This loan does not require any payments on both the new loan and your current mortgage during the initial period.
• Qualifying for a New Home: In some cases, we do not need to consider your current mortgage payment when qualifying you for a new home. This can simplify the qualification process on your new home.
• Credit Score Flexibility: New guidelines allow for credit scores as low as 620 to qualify for this loan.
• Home Sale Requirement: Your current home must be sold within six months of the closing date on your new home.
• No Appraisal required - May require a Home Inspection, or you to provide photographs of your home.

•  1-units single-family residences (attached and detached)
•  PUDs (attached and detached) 
•  FNMA/FHLMC warrantable condominiums (low, mid, and high-rise).

 How to Apply for an Equity Down Payment Loan:

1. Complete the Application:
   Click here to access the application portal.
   • If you haven't already applied for your new home loan, enter information about the home you wish to purchase. An estimate is ok.
   • If you have applied with Guild Mortgage,  then email pknap@guildmortgage.net 
   • Note: You must apply for and use Guild Mortgage to use the Bridge Loan. 

1. Email Details:
   Send an email to pknap@guildmortgage.net with the following information:

• The equity amount you want to use for your down payment.
• If you are working with an agent, include their contact information.
• Your proposed appraisal or selling price for your current home.

Results: You will receive the down payment for purchasing a new home within 2 hours of your review application. You will get texts and emails with updates.

Questions: Contact 404-276-4268 directly or to schedule a one-on-one, by making an appointment below for the desired time and date.

Make an appointment to talk more  to see if a  bridgeloan is right for you: CLICK HERE