Welcome to Bridge Loans at Garden City Mortgage Team

Life doesn’t always wait for perfect timing — and neither should your next move. Whether you’ve already found your dream home or you’re ready to sell your current property and step into something new, the gap between buying and selling can feel overwhelming. That’s exactly where Bridge Loans come in, and that’s exactly where Garden City Mortgage Team comes in too.

A Bridge Loan is a short-term financing solution designed to help homeowners and investors seamlessly transition from one property to the next without the stress of juggling two mortgages or rushing a sale. At Garden City Mortgage Team, we specialize in making Bridge Loans simple, accessible, and tailored to your unique situation. Whether you’re familiar with products like FHA Loans, VA Loans, or Conventional Loans, a Bridge Loan serves a very different — and very specific — purpose, and understanding how it works could save you time, money, and a tremendous amount of stress.

Let’s walk you through everything you need to know.

What Exactly Are Bridge Loans?

In the simplest terms, a Bridge Loan is a temporary mortgage that “bridges the gap” between your current financial situation and your future one. Most commonly, Bridge Loans are used by homeowners who have found a new property they want to purchase but haven’t yet sold their existing home. Instead of waiting — or walking away from a great opportunity — a Bridge Loan gives you the funds you need right now, with the expectation that you’ll pay it back once your current property sells.

Bridge Loans are typically short-term, lasting anywhere from a few months to about a year. They usually come with higher interest rates than traditional long-term mortgage products like Conventional Loans or FHA Loans, but the flexibility and speed they offer often make them well worth it — especially in competitive real estate markets where timing is everything.

Think of a Bridge Loan as a financial stepping stone. It gets you from where you are to where you want to be, quickly and efficiently, without forcing you to choose between selling first and buying second.

How Are Bridge Loans Different From Other Mortgage Products?

The mortgage world is full of options, and it’s important to understand where Bridge Loans fit in the bigger picture. Here’s how they compare to some of the other popular products we offer at Garden City Mortgage Team:

Unlike Conventional Loans, which are long-term mortgage products designed for primary home purchases with fixed or adjustable rates over 15 to 30 years, Bridge Loans are short-term and designed to be paid off quickly — usually within 12 months or less.

FHA Loans are government-backed loans that are great for first-time homebuyers who may have lower credit scores or limited savings for a down payment. Bridge Loans, on the other hand, are not government-backed and serve an entirely different purpose — they’re about timing and transition, not initial entry into homeownership.

VA Loans are an incredible benefit for eligible veterans and active-duty military members, offering competitive rates and little to no down payment. While VA Loans and Bridge Loans can sometimes work together in a strategy, they solve very different problems.

USDA Loans are designed for buyers in rural or eligible suburban areas and offer fantastic terms for those who qualify. Bridge Loans, however, are location-agnostic — they work anywhere a homeowner needs to bridge a financial gap between properties.

Jumbo Loans are for higher-priced properties that exceed conventional loan limits. If you’re purchasing a Jumbo Loan property and need short-term financing while your current home sells, a Bridge Loan could be the perfect companion product.

DSCR Loans are popular among real estate investors who qualify based on the income a property generates rather than their personal income. Some investors use Bridge Loans alongside DSCR Loans to acquire properties quickly before transitioning into longer-term investment financing.

Bank Statement Loans are ideal for self-employed borrowers who prove income through bank deposits rather than tax returns. A Bridge Loan can work hand-in-hand with a Bank Statement Loan if you’re a self-employed homeowner looking to move into a new property before your current one sells.

HELOC Loans — or Home Equity Lines of Credit — let you borrow against the equity in your current home. While HELOCs and Bridge Loans both tap into your home’s value, they work quite differently. A HELOC is a revolving line of credit, while a Bridge Loan is a lump-sum, short-term mortgage.

Finally, Down Payment Assistance programs help buyers cover the upfront costs of purchasing a home. While these programs are typically aimed at first-time buyers, understanding all of your options — including Bridge Loans — helps ensure you’re making the most informed financial decision possible.

Who Should Consider a Bridge Loan?

Bridge Loans aren’t for everyone, but for the right borrower, they can be a game-changer. Here are some of the most common situations where a Bridge Loan makes perfect sense:

You’ve Found Your Next Home, But Haven’t Sold Yet – This is the most classic Bridge Loan scenario. You’ve fallen in love with a property, but your current home is still on the market. A Bridge Loan lets you purchase now without waiting.

You’re in a Competitive Market – In hot real estate markets, homes sell fast. If you want to make a strong, competitive offer without a contingency tied to selling your current property, a Bridge Loan gives you the financial flexibility to do just that.

You’re Relocating for Work – Sometimes life moves quickly. If you have a job relocation and need to be in a new city within a tight timeframe, a Bridge Loan can help you secure housing on the other end before your current property is sold.

You’re an Investor Looking to Acquire Quickly – Real estate investors often use Bridge Loans to move fast on promising opportunities. Whether it’s a fix-and-flip, a rental acquisition, or a property that needs to be secured before financing is fully arranged, Bridge Loans are a popular tool in an investor’s arsenal.

You Want to Avoid the Hassle of Selling First – Selling a home before buying can mean moving into temporary housing, storing your belongings, and dealing with unnecessary disruption. A Bridge Loan eliminates that inconvenience entirely.

What Are the Requirements for a Bridge Loan?

Every lender has slightly different criteria, but here are the general requirements you can expect when applying for a Bridge Loan through Garden City Mortgage Team:

Equity in Your Current Home – Most Bridge Loans require that you have sufficient equity in the home you’re selling. This equity serves as collateral and gives the lender confidence that the loan will be repaid once the property sells.

A Strong Credit Profile – While Bridge Loans can be more flexible than some traditional products, a healthy credit score — typically 620 or above — strengthens your application considerably.

Proof of Ability to Repay – The lender will want to see that you can comfortably manage the payments on a Bridge Loan, especially if you’re temporarily carrying two mortgages. This may involve reviewing your income, assets, and overall debt picture. Depending on your situation, this could involve documentation similar to what’s used in Bank Statement Loans or Conventional Loans.

A Realistic Repayment Timeline – Bridge Loans are short-term by design. Lenders will want to see a clear, realistic plan for how and when the loan will be paid off — most commonly through the sale of your current property.

The Costs of a Bridge Loan – What to Expect

It’s important to go into a Bridge Loan with a clear understanding of the costs involved. Bridge Loans typically come with higher interest rates than long-term mortgage products like Conventional Loans or FHA Loans — often 1% to 3% higher or more. However, because the loan is short-term, the total amount of interest you pay is usually kept in check.

Additional costs may include origination fees, closing costs, and appraisal fees. At Garden City Mortgage Team, we are upfront about all costs from the very beginning. There are no hidden surprises — just honest, transparent communication at every stage of the process.

Even though Bridge Loans carry a slightly higher cost than products like VA Loans or USDA Loans, the convenience, speed, and flexibility they provide often far outweigh those costs — especially when the alternative is losing out on a property you truly want.

How the Bridge Loan Process Works at Garden City Mortgage Team

We believe the mortgage process should be straightforward — even when the product is a specialized one like a Bridge Loan. Here’s how we guide you through it:

Step 1: Initial Consultation – It all starts with a conversation. You’ll sit down with one of our experienced loan officers to discuss your situation, your goals, and whether a Bridge Loan is the right fit. We’ll also explore whether any other products — such as HELOC Loans, DSCR Loans, or Down Payment Assistance — might play a role in your overall strategy.

Step 2: Document Collection – We’ll gather the necessary paperwork, including information about your current property, your finances, and the new property you’re looking to purchase. This step is kept as simple and painless as possible.

Step 3: Appraisal and Underwriting – Your current property will be appraised to determine its market value and the equity available. Our underwriting team will then review your full application to ensure everything lines up.

Step 4: Approval and Funding – Once approved, your Bridge Loan is funded quickly — often within days. This means you can move forward with your purchase without delay.

Step 5: Repayment – Once your current property sells, the Bridge Loan is paid off. It’s that clean, that simple.

Why Garden City Mortgage Team Is the Right Choice for Your Bridge Loan

Navigating a Bridge Loan requires a lender who truly understands the product, the market, and — most importantly — your situation. At Garden City Mortgage Team, that’s exactly what we bring to the table.

We work with a diverse range of mortgage products every single day — from Conventional Loans and FHA Loans to Jumbo Loans, VA Loans, USDA Loans, DSCR Loans, Bank Statement Loans, HELOC Loans, and Down Payment Assistance programs. That breadth of experience means we don’t just see Bridge Loans in isolation — we see the full picture of your financial situation and help you make the smartest move possible.

Our team is dedicated to personalized service. We know that every borrower’s story is different, and we treat it that way. From your very first question to the moment your Bridge Loan is paid off, Garden City Mortgage Team is with you every step of the way.

We also pride ourselves on speed. In real estate, timing can mean the difference between getting the home you want and watching someone else walk through its door. Bridge Loans are all about speed and flexibility — and so is our team.