Bridge Loan Definition

A bridge loan is short term mortgage financing that is in place between the termination of one loan and the beginning of another loan.

Also, a form of interim loan, generally made between a short term loan and a permanent (long term) loan, when the borrower needs to have more time before taking the long term financing.

Commonly used for construction or rehab. Because the financing is short term, the rates are higher than a conventional loan.

If you think you will need help obtaining a bridge loan, then visit ProFunders.

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