Bridge Financing

Gain access to the equity of your home on your conditions.

We at Pilot Financial Group among the most well-known and flexible loan options are our Home Equity Line of Credit (HELOC). It doesn’t matter if you’re faced with an emergency at home, personal loan, or require access to money the HELOC offers the liberty and ability to access funds whenever you’re in need of it.

What is Bridge Financing?

Bridge financing, or a bridge loan, is a temporary loan secured by the equity in your current home. It provides the necessary funds to cover the down payment or purchase costs of a new home while you wait for the sale of your existing property. Essentially, a bridge loan “bridges the gap” between two real estate transactions, allowing you to purchase a new home before your current one sells.

Typically, bridge loans range from 3 to 6 months, though they can extend up to 12 months or longer based on your needs. To qualify for bridge financing, you must have a firm sale agreement in place for your existing property.

The Benefits of Bridge Financing

quick access to Equality

Once you’ve found your dream home, a bridge loan helps you quickly access the equity in your current home, providing the cash needed for a down payment or closing costs. In a competitive market, speed is crucial, and bridge financing allows you to act quickly.

Bay your new home now

By using bridge financing, you can buy your new home without waiting for your current property to sell. This helps you avoid potential price increases and ensures you don’t miss out on your dream home due to delays in the selling process.

Maximize your down payment

Bridge financing allows you to maximize the loan-to-value (LTV) ratio, with some lenders approving up to 85% or even 90% LTV. For example, if your home is valued at $1,000,000, you could access an additional $50,000 to $100,000 for your down payment, increasing your purchasing power.

Why Choose Pilot Financial Group for Bridge Financing?

At Pilot Financial Group, we specialize in residential bridge financing, providing tailored solutions for homeowners across Ontario. Here’s why our clients choose us:

We have strong relationships with a variety of private lenders, banks, and credit unions, which allows us to secure the best rates and terms for your bridge loan.

Our experienced team understands the urgency of bridge financing and works quickly to get you the funds needed to secure your new home without delays.