BRIDGE LOANS

 A bridge loan is often used in real estate transactions to provide cash flow during a transitional period, such as while moving from a current residence into a new home. Homeowners can use these short-term loans, which can help quickly put more cash in their pockets, to finance a new home or pay off an existing debt obligation. However, like any form of financing, bridge loans come with their own benefits and drawbacks. While Rocket Mortgage® does not currently offer bridge loans, we’re here to help you understand them. Let’s take a closer look at what bridge loans are and how they work.