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\n <\/div>\n \n Yes, You Can Buy Before You Sell. Why Move Twice?<\/h3>\n
Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency<\/strong>.<\/p>\n \n In real estate, a bridge loan<\/a>, also known as a swing or bridging loan, is a short-term financing option designed to help homeowners like you. It comes into play during the transition period of buying a new home while selling your current one. Essentially, this loan leverages the equity in your existing home, providing you with the necessary funds to make a down payment and handle closing costs for your new property in Missouri.<\/p>\n While bridge loans are generally more expensive than traditional mortgages, they offer a significant advantage: they enable you to quickly secure your new home in Missouri without waiting for your old home to sell.<\/p>\n Imagine you\u2019ve found the perfect new home in Missouri, but your current home hasn\u2019t sold yet. This is where a bridge loan comes into play. It allows you to tap into your existing home\u2019s equity to cover the down payment<\/a> and closing costs<\/a> for your new property.<\/p>\n Typically, the lender working with you on your new mortgage in Missouri will also handle your bridge loan. They\u2019ll usually require that your current home is listed for sale and offer the bridge loan for a period ranging from six months to a year.<\/p>\nWhat is a bridge loan, in simple words?<\/h2>\n
How does a bridge loan work in Missouri?<\/h2>\n