We are thinking about moving this summer and want to know how much of a hassle it would be to go with a bridge loan. In todays market, it seems like it would make sense. I don't want to be homeless because I don't offer $100k over asking price.

Is this something worth looking into or are the interest rates just ridiculous? I guess I could refinance in a year or so, but no telling what will happen appraisal wise in that time frame.

Would it be best to sell, rent back for 2-3 months in hope to find a new house, and if worse comes to worse just rent month to month?

I know this isn't the best time to move, but have a job opportunity I don't think I can pass up.

Reach out to Jay Hurst (sponsor of this board). He can help.

Jay does have a bridge loan product. If you have sufficient equity a HELOC may be another option.

Thanks Cody and jja.

Yes, we have a bridge product. You can refi right away as there is no pre-payment penalty so as soon as you get your current house under contract we start the refi process. So, in the vast majority of cases you do not need to hold on to the bridge loan for more then a month or two.

I did it with Jay just a few months ago. It was easy.

Currently working on a bridge loan with Jay and am as pleased as I have ever been when utilizing Hurst for a loan. Would definitely recommend getting in touch with him.

I used a bridge loan when purchasing my current home about 5 years ago. I had to move quick on the home purchase and the deal closed around the same time I put my previous home on the market. In my case, the purpose of the bridge loan was to avoid PMI. I put 5% down, bridge loan of 17%, conventional loan for 78%. When my previous home sold, the proceeds went to paying off the bridge loan and paying down the conventional loan.

The whole process was very easy.

Thanks for all the info guys!