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Bridge Home Loans

Bridge Home Loans

Take the stress out of transitioning to a new home with Leaders.

Easy, Stress-Free Home Transitions

Transitioning to a new home requires financial flexibility. Leaders Credit Union offers bridge home loans to help you buy a house even if you haven’t sold your current home.

Bridge Home Loans take the stress out of moving.

We’re here to help you make a smooth transition to your new home. Are you:
Buying a new home before your current home has sold?
In search of financing with interest-only payments?
Worried that you won’t be able to afford a down payment on your new home?
Looking to access your current home's equity to purchase your next home?
Ready to take the stress out of transitioning to your new home?
Seeking easy-to-use tools to manage your home financing?
Apply For Bridge Loan
Bridge Home Loans
payments

Interest-only payments

6-month term

6-month term

No prepayment penalty

No prepayment penalty

Highlights

Bridge Loan

The short-term loan you need for a smooth transition.

Apply For Bridge Loan
down payment

Free up your home’s equity to use as a down payment on your next home

loan portal

Intuitive loan portal to track your loan progress

payments

Interest-only payments

6-month term

6-month term

No prepayment penalty

No prepayment penalty

down payment

Free up your home’s equity to use as a down payment on your next home

loan portal

Intuitive loan portal to track your loan progress

Get Approved Today

Easy online application process
Get Started

Testimonials

What Our Members Are Saying About Leaders

Frequently Asked Questions About
Bridge Loans

Bridge loans are a form of short-term financing used to pay off a homeowner’s current mortgage prior to the sale of their home. The bridge loan frees up the home’s equity for use toward the down payment and/or closing costs on the homeowner’s next home. When the current home sells, the proceeds are used to pay off the bridge loan.

Terms vary from lender to lender, but most bridge loans have terms of six months or less. Their purpose is to bridge a financing gap, not to provide long-term use of the money.

People choose bridge loans for a variety of reasons. The most common reasons are as follows:

 

  • Your dream home comes on the market and you don’t want to miss out on buying it.
  • You have equity in your current home but don’t have enough cash for a down payment on your next home.
  • You fear that your purchase offer won’t be accepted with a sale contingency for your current home.
  • You need to relocate for a new job.
  • Your family has outgrown (or will soon outgrow) your current home.
  • You don’t have a temporary housing solution between homes.

What all these things have in common is the need for help transitioning into a new home. Leaders Credit Union understands that life doesn’t always play out according to plan – and we’re here to help.

One of the features of Leaders’ bridge loans is that they don’t include a penalty for early repayment. If you sell your current home more quickly than anticipated, you’ll save on interest by repaying your bridge loan early.

Leaders Credit Union offers bridge loans with interest-only payments. Our goal is to keep your monthly payments low, so that you can afford your new mortgage and have a stress-free transition.

Yes. We strive to make the loan application process as simple as possible. You can start the application process by clicking here.

Still have questions? Visit our Help Center.

Do You Have Mortgage Questions?

Schedule a free appointment with one of our Mortgage Champions and we’ll help you choose the best home loan for your needs.

Do You Have Mortgage Questions?