One of the biggest challenges homeowners face when moving is timing. Many buyers need the equity from their current home to purchase the next one, but waiting for their home to sell can mean missing out on the perfect property.

A BOOST Bridge Loan helps solve this problem by allowing qualified homeowners to leverage the equity in their existing home before it sells. Instead of making your purchase contingent upon selling your current property, you may be able to move forward with greater flexibility and confidence.

What Is a Bridge Loan?

A bridge loan is short-term financing designed to "bridge the gap" between selling your current home and purchasing your next one. It provides temporary access to your home's equity, which can be used toward the down payment and closing costs on your new property.

This can be especially valuable in today's competitive housing market, where stronger offers often have fewer contingencies.

Program Highlights

• Use your existing home equity toward the purchase of your next home.
• Pay off your current mortgage while accessing available equity.
• Standalone bridge loan option available for eligible owner-occupied properties.
• No monthly payments required on eligible standalone bridge loans.
• Multiple income documentation options, including Full Documentation, 12 Month Bank Statements, 24 Month Bank Statements, and Asset Depletion.

Financing Options:

Primary Residences

Qualified borrowers may be eligible for financing up to:

• 75% Loan to Value (70% in Florida) for loan amounts between $1 million and $1.5 million.
• 65% Loan to Value for loan amounts between $1.5 million and $2 million.

Standalone Bridge Loan

For eligible owner-occupied properties:

• Up to 70% Loan to Value (65% in Florida).
• Executed purchase contract required.
• 12-month balloon payment.
• No monthly payments required.

Second Homes & Investment Properties

• Up to 60% Loan to Value.
• Loan amounts up to $1 million.

Is a BOOST Bridge Loan Right for You?

This program may be a great fit for homeowners who:

• Need equity from their current home for the next purchase.
• Want to avoid making an offer contingent on selling first.
• Are relocating for work.
• Are moving into a larger or smaller home.
• Want additional flexibility during the transition.

Every situation is unique, and our mortgage advisors can help determine whether a bridge loan is the right financing solution based on your goals.

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