Buy a new home without selling your current residence and leverage your equity for the down payment.
Our Bridge Loan transforms you from a contingent buyer into the equivalent of a cash buyer, enabling you to close quickly and seamlessly. Don’t get stuck in your current home with no hope to buy a new home in today’s hot housing market. We can help!
Not sure exactly what a bridge loan is, how it works, or how Home Got Owned Mortgages bridge loans are different? Here’s everything you need to know about home bridge loan financing.
A home bridge loan allows a move up buyer to purchase a new home without having to sell their current residence until after closing. In real estate terms, this allows you to buy a new home non-contingent on the sale of your current residence.
When you make an offer on a house that you can’t back up without selling your existing home, you usually have to include a contingency clause. This states that you can back out all the way up to closing if your current home doesn’t sell by that date.
There’s nothing really “wrong” with contingent offers, from the homebuyer’s point of view. It lets you try and coordinate a home sale and a home purchase so you aren’t stuck in limbo after selling your house, trying to find someplace to live while you purchase a new one. It can also prevent you from closing on a new home and having to manage two mortgages until you can sell your other house.
The real issue is how sellers see your offer in a market as hot as they are right now. When the market is cold and homes are slow to sell with low competitiveness between buyers, a seller might just be glad to have an offer on the table that could come through. However, in a market low on inventory, offers for each available home are usually simultaneous and multiple, and this means sellers look at the ones with the least strings.
An offer with a contingency clause is likely to be passed over quickly, as no seller wants to tie themselves up with a buyer who reserves the right to back out at the last minute based on circumstances out of their control. This means that a contingent offer can kill your chances in a seller’s market.
In addition to not being particularly useful for solving the contingent offer problem, interest rates can be staggering for this kind of short term loan. A typical Seattle bridge loan lender will also take both the current and new mortgage into account for qualifying, which can significantly affect your debt-to-income (DTI) ratio and make it hard to qualify for a loan amount big enough to realistically meet your needs.
The Home Got Owned Mortgages bridge loan is a new short-term first lien on the new home you are purchasing. We are more flexible, and only take the new mortgage into consideration when calculating the debt-to-income ratio. This dramatically increases the reach of our home bridge loan financing as an option for buying a new home while selling your current one.
Once your new purchase closes, Home Got Owned Mortgages will begin the process of setting up your permanent financing. As soon as your previous property sells, we will finalize a refinance of the bridge loan into a long-term conventional mortgage. This means everything happens seamlessly and you can go from living in your previous home to living in your new one with a minimum of hassle.
Our home bridge loan financing program is currently available for properties located in Seattle as well as the rest of Washington State, Oregon, Colorado, Idaho & California. You can reach our expert team of Seattle bridge loan lenders at 425-401-8787.
Realtors: if you have buyers that are currently stuck making contingent offers, give us a call and we can discuss this option in greater detail.
Innovative programs and strategies you need to get offers accepted in today’s competitive house market.
We proudly serve customers in the Pacific Northwest region. If you’re looking to buy a home in one of these states, we can help!
Transparent Rates and Costs Available 24/7
180 Reviews
50 Reviews
Cant say enough great things about Home Got Owned Mortgages. Their rates are extremely fair and transparent. We worked with Sandra and Barb who were both excellent and helped get us out of an unexpected situation with another lender! We applied for a loan on a Saturday and Sandra got back to us the next day to get the process started even though it was the weekend. They both helped us close extremely quickly and were always readily available/responsive to us. We highly recommend Home Got Owned Mortgages!
It was very streamlined and the communication from the team was excellent. All questions were answered in a timely manner. Thank you
Excellent rates! Responsive team members. They were able to speed along our closing process and gave me plenty of tips that made that seamless. Even the title company was impressed with them and commented on how “with it” their team was! Would work with Home Got Owned Mortgages again in a heart beat!
I had an outstanding experience working with Nick and Barb at Home Got Owned Mortgages! From the very beginning, their professionalism, expertise, and genuine care for their clients were evident. Nick was incredibly knowledgeable, taking the time to explain every step of the mortgage process and offering valuable advice tailored to my situation. Barb was equally amazing, ensuring all the paperwork was handled smoothly and that deadlines were met without a hitch. The teams communication was top-notchthey were always quick to respond to my questions and provided updates at every stage. They made what could have been a stressful process feel seamless and straightforward. I truly felt like they had my best interests at heart, and their dedication to exceptional service was clear throughout the entire experience. If youre looking for a mortgage team that combines expertise, efficiency, and a personal touch, I highly recommend Nick and Barb at Home Got Owned Mortgages. They went above and beyond, and I couldnt be happier with the results!
Home Got Owned Mortgages was wonderful to work with. Trevor and Barb did an excellent job of guiding me through the loan process and getting me approved. If I need to get another loan I will definitely use them again.
Home Got Owned Mortgages provide exceptional service! The team is fast, proactive, and attentive to every detail, making the entire mortgage process smooth and stress-free. Their friendly and knowledgeable approach made us feel supported at every step.
Shelly and her team went above and beyond to help us close on our house within a very tight timeline. I thought their rates were too good to be true, but they indeed made it happen without any surprise fees along the way. Highly Recommended!
Get Started by Home Got Owned Mortgages — no application fee, and no pressure to close.
Discover how much you can save or cash out by refinancing your mortgage, and what it will cost you to refinance today.
Plan for your future by estimating your home cost, interest rate, and monthly payment before you start househunting.
Since 1992, Home Got Owned Mortgages has been committed to providing home buyers with great rates and fees coupled with superior service. Contact us today to get started on the pre-approval process, whether you’re buying your first home or your dream home. Our highly experienced loan officers focus on your unique needs, helping you get the right mortgage for your financial situation.
License: #NMLS: 2290973
Consumer Access Record
© 2025 Home Got Owned Mortgages. All Rights Reserved.
