COMPASSBRIDGE LOAN SERVICES
A simple solution to bridge the gap between the home you have and the home you want
Compass Bridge Loan Services provides access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your bridge loan payments fronted when you sell your home with a Compass agent.
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, without rushing to sell.
Our Solution
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.
Bridge Loan Advance
Work with a Compass agent to sell your current home and get up to six months of your bridge loan payments and other associated costs fronted — an exclusive offering for Compass clients, regardless of the lender you use.*
Does a bridge loan make sense for you?
Is your money tied up in the equity of your current home?
If you want 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 can 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
We offer a full range of real estate services
1
Inquire directly with a bridge loan lender, such as Better.com or Freedom Mortgage, to see financing options and if you qualify.
2
Apply to get pre-approved for a bridge loan with the lender of your choice, while searching with your Compass agent for your next home.
3
If approved for a bridge loan, learn more about getting the first six months of your bridge loan payments fronted via the Bridge Loan Advance by Notable, an independent lender.
4
If needed, use your approved bridge loan to strengthen your bid on a new home.
5
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.
6
When your old home sells, simply use the proceeds to pay back the bridge loan and Bridge Loan Advance.
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.
Freedom Mortgage
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.
855-915-8500
bridgeloans@freedommortgage.com
Available to serve customers in all states.
Better.com
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.
844-875-1234
bridgeloans@better.com
Success story
Melissa, Seller | New York City
“We thought our former home would sell quickly. When it didn't, the bridge loan became the crucial piece that allowed us to close on the purchase of our new home. We were surprised at how quickly everything went through — it was a no-brainer.”
Melissa, Seller | New York City
“We thought our former home would sell quickly. When it didn't, the bridge loan became the crucial piece that allowed us to close on the purchase of our new home. We were surprised at how quickly everything went through — it was a no-brainer.”
Individual results may vary. Testimonials are not intended to guarantee the same or similar results.
