In the process of purchasing a home, there are many timelines and closing dates, and many of them do not match up, sometimes creating a need for additional capital. Have you purchased a new home but your current home has not closed? At LENDINGHUB, we make sure that Canadian homeowners have access to the money they need when buying or selling their home by offering bridge loans.

A bridge loan is exactly what it sounds like. It is a short term loan that can be used to pay for various home buying and selling costs, eliminate a financial obligation, and get access to cash flow right away. It is a popular financing option for landlords, property developers, real estate investors, and homeowners in the process of selling. Basically, bridge loans provide you with the financing you need but is not yet available from more traditional borrowing avenues (you are waiting for your house to sell or money to get freed up). It is secured to your existing home, and the funds can be used for a down payment on a new property. Since the interest rates for bridge loans vary, it’s important to work with a broker, like us, to help you get the lowest interest rates and financing terms possible.