At My City Home Loans, our bridge loan solution gives homeowners the flexibility to purchase their next home before selling their current one—an ideal option for move-up buyers who need more space, want to act quickly, or prefer to avoid the pressure of listing first.

With our bridge loan, we can omit your departing residence’s mortgage from your debt-to-income (DTI) ratio, helping you qualify for your next home without being weighed down by two mortgages. This creates a true non-contingent offer—allowing you to compete in today’s fast-paced real estate market without sellers having to wait for your home to sell.

Even better, bridge loan funds can be used toward your down payment on the new home or to make updates and repairs to your current property, helping you sell faster and potentially for more money. You stay in control of the timeline, avoid temporary housing, and reduce the stress of back-to-back closings.

For those looking to buy before they sell, a bridge loan is a strategic financing tool that offers flexibility, speed, and peace of mind.
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How a Bridge Loan Works

A bridge loan is a short-term financing option that lets you access the equity in your current home to help fund the purchase of your next one—before your current home sells. Here’s how it works:

1. You still own your current home and identify the new home you want to buy.
   
   
2. You apply for a bridge loan and a mortgage on your new home. The bridge loan allows you to borrow against the equity you’ve built in your current home.
   
   
3. You use the bridge loan funds however it makes sense for your situation—whether it’s for a down payment, moving costs, or updates to your current home before listing.
   
   
4. After you move into your new home, you list and sell your previous home—typically within 6 months.
   
   Pro tip: Consider using part of your equity to make strategic improvements before listing. Even small upgrades can boost your home’s value and help it sell faster and for more.
   
   
5. Once your old home sells, you use the proceeds to pay off the bridge loan.
   
   

Ways you can use the equity from your current home:

• Down payment on your next home
  
  
• Closing costs on the new home
  
  
• Up to $5,000 in moving expenses
  
  
• Pay off secured or unsecured debt
  
  
• Make repairs or upgrades to boost your current home's value
  
  

Key Benefits of a Bridge Loan

✅ Avoid double mortgage payments – Skip the financial strain of carrying two mortgages at once.

✅ Access your equity upfront – Use the equity in your current home before it sells to fund your next move.

✅ Qualify more easily – We exclude your existing mortgage from your debt-to-income ratio, helping you qualify for your next home.

✅ Flexible selling timeline – Enjoy up to 6 months to sell your current home after you’ve moved into the new one.

✅ Make a stronger offer – Present a non-contingent offer and compete with confidence in a fast-moving market.
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What Are Contingent Offers, And Why Do They Get Tossed Aside?

A contingent offer is when a buyer wants to purchase a new home, but the deal depends on certain conditions being met—most often, the sale of their current home. In short:

“We want this house, but we can only buy it if our home sells first.”

From a seller’s perspective, that kind of uncertainty can feel risky. Even if the offer price is strong, contingent offers introduce variables.

• What if the buyer’s home doesn’t sell?
  
  
• What if it takes too long?
  
  
• What if the deal falls through?
  
  

In competitive markets, sellers tend to favor offers that are clean, certain, and can close quickly. That’s why contingent offers often get pushed aside—not because the buyer isn’t qualified, but because the seller wants the surest path to closing.

Scenario:
Imagine you're a seller with a beautifully updated home that just hit the market. Within 48 hours, you receive two offers. One is from a family who clearly loves the house—but their offer is contingent on selling their current home. The other offer is slightly lower, but it’s non-contingent.

As much as you want to help the first family, the second offer gives you peace of mind and a quicker closing. In a fast-moving market, that peace of mind usually wins.

How Bridge Loans Turn a Contingent Offer into a Non-Contingent One

A bridge loan removes the biggest hurdle that makes your offer contingent: the need to sell your current home before you can buy. With that obstacle gone, your offer becomes non-contingent—giving you a major edge in a multiple-offer scenario.

You can present yourself like a buyer who’s already sold their home, even if you haven’t closed on it yet.

Want to learn more about how a bridge loan could work for you?
Contact us to explore your options and make your next move with confidence.