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Bridge Mortgages in Canada

Canadian Mortgages, Inc. (CMI) can help you with Bridge Financing

Do you need a bridge loan to complete your mortgage financing process? CMI brokers have expertise with integrating bridge financing into a comprehensive mortgage lending process. Through the use of bridge financing, Canada has a potent tool to facilitate the complex mortgage financing process. But what is a bridge loan?

What is bridge financing?

A bridge loan mortgage is a niche home equity financing product that “bridges gaps” between more permanent financing vehicles. For example, a bridge loan can provide short-term funds between the purchase of one property and the sale of another.

“Bridging” the gaps between closings can make a bridge mortgage a critical piece of your mortgage financing strategy. But knowing where to find and how to structure these unique home financing products can be complicated.

Why should I use a Bridge Loan?

For those who don’t deal with complicated equity financing strategies, issues with short-term cash flow or managing multiple transactions can be daunting. Understanding bridge mortgage strategies expands your options and choices. For example, does your small business have short-term cash flow needs? Or are you building a new home and need construction financing before selling your old home? The solution may be a bridge loan. Mortgage financing strategies often require bridge financing to complete.

How to get Bridge Financing?

Canada is filled with lenders willing to do a bridge mortgage, but how do you find them and how do your structure them? CMI brokers can help. We can find you a bridge loan mortgage ranging from $15,000 up to $5 million. They can be structured in 1st & 2nd positions and secured by residential and commercial real estate. We even use bridge loans to finance completion of construction projects.

CMI brokers will first help you determine what kind of home equity loan makes sense for you. It is possible that, depending on your needs, another kind of second mortgage will make more sense. If bridge financing makes sense, we will find you the most competitive rates.

With over 30 years of experience in Canada’s real estate and mortgages markets, we have built a network of lenders, agents, appraisal experts and lawyers that can provide the expertise needed to structure a manageable and affordable bridge loan.

So contact CMI today for a complimentary consultation to determine if bridge financing may be for you.