BRIDGE LOAN SERVICES
A simple solution to bridge the gap between the home you have and the home you want.
Compass Bridge Loan Services provides access to competitive rates and dedicated support from well established industry lenders, with the exclusive option to get up to six months of your bridge loan payments fronted when you sell your home with a Compass agent.
Contact Jamie to learn more about Bridge Loan Services.
REALTOR® | DRE# 01942190
What’s a bridge loan?
A bridge loan is a short-term loan that uses the equity from your current home to help you make an offer on a new one, without rushing to sell.
After months of research, Compass has selected lenders that are offering competitive rates and dedicated service for Compass clients. Already working with a lender you love? No problem. This unique solution lets you choose the provider that works best for you.
Bridge Loan Advance
Work with a Compass agent to sell your current home and get up to six months of your bridge loan payments and other associated costs fronted — an exclusive offering for Compass clients, regardless of the lender you use.*
Does a bridge loan make sense for you?
Is your money tied up in the equity of your current home?
If you want to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home — like for a down payment or mortgage payments. Once your current home sells, you can use the proceeds to pay the bridge loan back.
Do you need to move within a specific timeframe?
If you’re relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.
Does your home require renovations or other work?
Whether you’re using Compass Concierge to increase your home’s value, or are making improvements on your own, it may be easier to have construction work done when you’re out of the house. A bridge loan can help you move faster so you’re out of the house while those improvements are being completed.
How it works
Next step: finding a lender
While Compass clients are encouraged to find the best lender for them, RoundPoint Mortgage Servicing Corporation and Better Mortgage are well established industry lenders who offer short-term financing and are a part of Compass Bridge Loan Services.
When looking for a mortgage, it’s important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home buying or refinancing needs, regardless of how unique your circumstances may be. We can help.
RoundPoint Mortgage Servicing Corporation,
A Freedom Mortgage Corporation Subsidiary
Available to serve customers in all states except MA. Coming Soon.
Better Mortgage is making homeownership simpler, faster, and most importantly, more accessible for all Americans. No commission, an easy digital process, and award-winning service are just a few of the ways Better Mortgage is redefining what it looks like to get a mortgage.
Better Bridge Loan Team
Available to serve clients in all states except MA, VA, VT, NH, HI, MN, NC, WY, ID, and NV.
More states coming soon.
Melissa, Seller | New York City
“We thought our former home would sell quickly. When it didn’t, the bridge loan became the crucial piece that allowed us to close on the purchase of our new home. We were surprised at how quickly everything went through — it was a no-brainer.”
Individual results may vary. Testimonials are not intended to guarantee the same or similar results.
What rates and fees accompany a bridge loan?
The rates and fees for each bridge loan are determined by the lender. We recommend reaching out to a bridge loan lender directly to learn more. As a reminder, the bridge loan itself can be from any lender of your choice. If you are approved for the Bridge Loan Advance, it has a 0% APR for the life of the loan and has no additional application or closing fees.*
What is covered by the Bridge Loan Advance?
The Bridge Loan Advance can equal up to 6 months of monthly payments and eligible closing costs incurred from the bridge loan.* Eligible closing costs include: (1) the dollar value of any points paid upfront, (2) origination or application fees where applicable; and (3) appraisal fees.
Who is eligible for the Bridge Loan Advance?
The Bridge Loan Advance is available exclusively for qualified clients with a traditional bridge loan who are working with a Compass agent to sell their existing primary residence.*