Bridge Loans
Short-term financing that lets you buy a new home before selling your current one, giving you the flexibility to move on your timeline.
What are Bridge Loans?
A Bridge Loan is a short-term, interim mortgage that 'bridges the gap' between the purchase of your new home and the sale of your existing one. It lets you access a portion of your current home's equity to use as the down payment on your next property, so you can move without waiting for a buyer.
Because Bridge Loans are designed to be repaid quickly—typically within 6 to 12 months—they carry higher interest rates than traditional mortgages. Once your current home sells, the proceeds pay off the bridge loan, leaving you with only your new primary mortgage.
Best For Which Buyers?
- Relocating Families: Buyers who need to close on a new Michigan home before their current one sells.
- Contingent-Free Buyers: Those who want to make a stronger, non-contingent offer in a competitive market.
- Move-Up Buyers: Homeowners upgrading to a larger home while still holding their existing property.
Key Benefits
- ▸Close on your new home without waiting for your current one to sell
- ▸Use your existing equity as the down payment on your next property
- ▸Make stronger, contingency-free offers in competitive housing markets
- ▸Flexible repayment once your current home sells
Why Work With Lake State Mortgage?
At Lake State Mortgage, we provide personalized guidance, a wide variety of loan solutions, and local, responsive service to match your individual financial goals.
Michigan Experts
Deep understanding of Grand Rapids and Michigan real estate, local guidelines, and state programs.
Wholesale Rates
Shopping dozens of wholesale lenders to find the best rate for your situation.
Competitive Rates
Access to a wide variety of loan programs to find the best rate for your situation.
5-Star Service
A commitment to clear communication and a stress-free closing process.
Fast Approvals
Streamlined processing to get your loan closed quickly and efficiently.
Bridge Loans FAQs
What Our Clients Say
"Kevin Wildman of Lake State Mortgage and his assistant, Christina, are like a godsend!!!"
Kevin Wildman of Lake State Mortgage and his assistant, Christina, are like a godsend!!! From the very first day I spoke to Kevin and all the way through the process, he was very kind, humble, patient, professional, attentive... Shall I go on? They were with us every step of the way!
Robert Shipley
Zeeland, MI
"Very Customer Focused"
Kevin and his team were prompt, friendly, and very available, even off hours. His team members were extremely helpful, and helped us complete all documentation easily and quickly. They also answered questions outside their area to help us with closing.
Aaron R.
Spring Lake, MI
"Amazing Service"
Lake State Mortgage provided excellent service. Every member of the staff was courteous, thorough, and quick to assist us with every question or issue. They even helped us find an agent to provide a great home insurance premium. We closed with a VA loan in four weeks!
April Norcross
Grand Rapids, MI
"Investment Home - Refi (AWESOME LENDER!)"
We found Kevin and learned about our various options with refinancing the home in order to re-invest in another property. Kevin was incredibly helpful, resourceful and guided us through every step of the process. We are definitely using him for all our mortgage needs in the future!
Jo Gamrot
Muskegon, MI
"Purchase on a new home - Record time closing!"
Kevin and his team are amazing! They were efficient, and were able to close my mortgage for me in record time. I was with a different lender at first that gave misleading information and expectations that were never met. So I switched my mortgage to Kevin's office and it was smooth sailing!
L. Decker
Indian River, MI
"Seamless MSHDA Down Payment Assistance"
Lake State Mortgage helped us secure $10,000 in MSHDA down payment assistance as first-time buyers in Grand Rapids! Kevin Wildman and his team walked us through every requirement without making it feel overwhelming.
Michael & Sarah K.
Grand Rapids, MI
Ready to Explore Bridge Loans?
Apply online in minutes or call our 24/7 AI pre-qual hotline.