Bridge Financing is available with most institutions and long as:
a) Seller has FIRM (unconditional) offer on their current residence and
b) There is a mortgage in it for them at the end if the day
*Rates vary but are approx. Prime +5 during bridge period, some carry an approx. $300-400 fee.

Our Back up Plan, when Bridge Financing is not available, is called an Interalia (or aka “Umbrella”) Mortgage – and this requires a strong equity position. Feel free to have your clients call me for a free consultation; but here are some circumstances where we might use this product:
a. Firm sale on the property being sold, and financing is required for less than 30 days (e.g. no mortgage required at end of day, so there is no lender to provide the above bridging option).
b. Property being sold is listed (not sold) and financing is required for more than 30 days.
c. The home is NOT listed nor has a firm sale.
*Rates run from 6.99% – 7.49%. Broker and Lender fees will apply, this is quoted up front and is based on percentage of mortgage amount.

Deposit Financing is also available!
If your client has a firm sale on their home, this service allows them to access the equity before the completion. Typically this is used for a deposit on a new home, but it can be spent on any taxes, moving expenses, closing costs, or personal expenses. No appraisal • No monthly payments • No credit check • Quick funding • No income verification • No mortgage registration • Electronic signatures accepted • Direct funding to the applicant’s account
Amounts $10,000 – $100,000 Interest rate 1% monthly Processing fee 5% (minimum $1,000)