Buy Your Next Home Before You Sell
A bridge loan gives you funds to buy your next home before your current one sells. At least one program we offer starts at a $1,000,000 loan amount with a 680 minimum score.
What you need for a bridge loan
Each item below is a requirement of at least one bridge program we offer.
- A 680 minimum credit score.
- A loan amount of at least $1,000,000.
- A one- to four-unit single-family home.
- A neighborhood where the average marketing time is six months or less.
- A comparable rent survey with every appraisal, and two appraisals for loan amounts over $1.5 million.
- A pledge account with the bank making the bridge loan.
Buy before you sell
Owner, second home, or investment
Interest-only payments
Built for larger loans
Fannie Mae accepts it
Not every program does
How A Bridge Loan Works
It gives you funds to close on your next home before your current home is sold.
A bridge loan, also called a swing loan, gives you funds to close on a new home before your current home is sold. Fannie Mae accepts bridge loan funds for closing on a new principal residence when the bridge loan is not cross-collateralized against the new property and you can show you can carry the new home, the current home, the bridge loan, and other obligations.
At least one bridge program we offer covers one- to four-unit single-family homes that are owner occupied, second homes, or investment properties. It requires a 680 minimum score and a loan amount of at least $1,000,000, and it is interest only. Non-resident aliens are not eligible. Moving up to a larger home? See our move-up home loan page.
On Fannie Mae, the bridge loan is counted in your debt-to-income ratio for the new loan. That requirement is waived when you provide a fully executed sales contract on your current home and confirmation that any financing contingencies have cleared.
Why choose Saxton for a bridge loan
For owners who found the next home before their current one has sold.
Buy Before You Sell
Fannie Mae lets bridge loan funds close on a new principal residence before the current one is sold.
Owner, Second Home, Or Investment
At least one bridge program covers owner-occupied homes, second homes, and investment properties.
Interest-Only Payments
At least one bridge program we offer is interest only.
Built For Larger Loans
At least one bridge program starts at a $1,000,000 loan amount, and loans over $1.5 million need two appraisals.
Fannie Mae Accepts It
Fannie Mae treats a bridge loan as an acceptable source of funds when it is not cross-collateralized against the new home and you can carry both homes and the bridge loan.
Not Every Program Does
At least one jumbo program will not count a bridge loan toward reserves, and at least one home equity line will not lend on a home that is listed for sale.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about bridge loans.
A loan that gives you funds to close on a new home before your current home is sold. Fannie Mae also calls it a swing loan.
At least one bridge program we offer requires a 680 minimum score.
At least one bridge program starts at $1,000,000. Loans over $1.5 million need two appraisals.
Yes, on at least one program, which allows owner-occupied homes, second homes, and investment properties.
No. At least one program is not available in 20 states and the District of Columbia, and Texas homestead properties are not eligible.
On Fannie Mae, yes, unless you provide a fully executed sales contract on your current home and confirmation that financing contingencies have cleared.
Non-resident aliens are not eligible on at least one bridge program.
Find out what you qualify for
Tell us about the home you own and the one you want to buy, and we will show you the bridge options that fit.
Get Pre-Qualified- Consumer Financial Protection Bureau, buying a house: tools and resources for homebuyers
- Consumer Financial Protection Bureau, mortgages
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.