Compass Bridge Loans
Compass Bridge Loan Services gives you the financial flexibility to make an offer on your next home without waiting for your current one to sell.
What’s a bridge loan?
A bridge loan is a short-term loan that uses the equity from your current home to help you make an offer on a new one.
This exclusive Compass-only resource provides you access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your loan payments fronted when you sell your home with a Compass agent.
After months of research, Compass has selected lenders that are offering competitive rates and dedicated service for Compass clients. Already working with a lender you love? No problem. This unique solution lets you choose the provider that works best for you.
What makes Compass Bridge Loan Services unique?
When you work with a Compass agent to sell your current home, you'll have the option to get up to six months of your loan payments fronted - an exclusive offering for Compass agents. That means you'll have no out-of-pocket costs for the first six months of your bridge loan during your transition between homes.
Could a bridge loan be right for you?
If you answer "yes" to any of the following questions, it just might be.
Is your money tied up in your current home?
If you need to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home - like for a down payment or mortgage payments. Once your current home sells, you'l use the proceeds to pay the bridge loan back.
Do you need to move within a specific timeframe?
If you're relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.
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
Sign an Exclusive Listing Agreement with your Compass agent to sell your current home — while you work with them to find your next dream home.
Apply and get approved for a bridge loan with the lender of your choice.
Ask your Compass agent about getting the first six months of your bridge loan payments fronted.*
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 any fronted monthly payments.
Next step: finding a lender
While Compass clients are encouraged to find the best lender for them, Freedom Mortgage and Better.com are industry-leading lenders who offer short-term financing and are a part of Compass Bridge Loan Services.
When looking for a mortgage, it’s important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home-buying or refinancing needs, regardless of how unique your circumstances may be. That’s the Freedom Mortgage difference.
Better.com is making homeownership simpler, faster, and most importantly, more accessible for all Americans. No commission, an easy digital process, and award-winning service are just a few of the ways Better.com is redefining what it looks like to get a mortgage.
Available to serve clients in all states except NY, MA, VA, VT, and NH.
More states coming soon.