COMPASS BRIDGE LOAN SERVICES
A simple solution to bridge the gap between the home you have and the home you want
What’s a bridge loan?
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?
Do you need to move within a specific timeframe?
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
- Inquire directly with a bridge loan lender, such as Better Mortgage or Freedom Mortgage, to see financing options and if you qualify.
- Apply to get pre-approved for a bridge loan with the lender of your choice, while searching with your Compass agent for your next home.
- If approved for a bridge loan, learn more about getting the first six months of your bridge loan payments fronted via the Bridge Loan Advance by Notable, an independent lender.
- If needed, use your approved bridge loan to strengthen your bid on a new home.
- Move into your new home while your Compass agent works to sell your current home. (Use Compass Concierge home improvement services to sell your home faster and for more money.)
- When your old home sells, simply use the proceeds to pay back the bridge loan and Bridge Loan Advance.
Information regarding lenders which offer short-term Bridge Loan financing is provided for informational purposes only and does not constitute an endorsement of the particular lenders referenced. Compass cannot guarantee that these institutions will be able to assist and does not assume any responsibility as to the performance of services to be provided by these institutions. There are no requirements that you participate in the Compass Bridge Loan Services or obtain a loan from these providers to participate in any other Compass programs (such as Compass Concierge). Speak to your Bridge Loan lender about all the costs you may be responsible for in connection with your Bridge Loan.