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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 A bridge loan<\/a> is a short-term financing option that\u2019s designed to \u201cbridge\u201d the gap between buying your next home and selling your current one. Instead of stressing about timing, you can access your equity<\/a> early to make an offer with confidence.<\/p>\n Here\u2019s how it typically works:<\/p>\n This tide-over arrangement can be a lifesaver, especially in competitive markets, but it comes with higher costs and tougher qualifications than a standard mortgage<\/a>.<\/p>\n Most lenders want to see a solid credit history<\/a>, with minimum scores often ranging from 650 to 700<\/a>. A stronger score can help you qualify for better rates.<\/p>\n You\u2019ll usually need at least 20% equity<\/a> in your current home to qualify. Lenders want assurance that your property has enough value to secure the loan.<\/p>\nWhat is a bridge loan?<\/h2>\n
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Bridge loan requirements: What lenders look for<\/h2>\n
Credit score<\/h3>\n
Equity in your current home<\/h3>\n
Debt-to-income (DTI) ratio<\/h3>\n