Bridge loan

Buy it now, sell later

No waiting on a sale to close

Move on a flexible timeline

Buy with confidence, not pressure

Person standing beside a sold sign in front of a homePerson standing beside a sold sign in front of a home
Clipboard with a document and a house image

How a Bridge loan works

Step 1
Step 2
Step 3
Step 4

Your current home goes on the market first.

During this step

Mortgage and tax statements needed; plan for a 2-4 week process.

Based on your home’s equity, prequalify for up to $500,000.

During this step

We'll verify your income, assets, and employment, plus any applicable fees.

Make a purchase using the bridge loan for your down payment and closing costs.

During this step

Make offers and buy your next home without waiting to sell.

Make lower, interest-only payments until your home sells.

During this step

Make interest-only payments until your home sells and the loan is paid off.

Step 1

List your home for sale

Your current home goes on the market first.

During this step

Mortgage and tax statements needed; plan for a 2-4 week process.

Step 2

Get your bridge loan

Based on your home’s equity, prequalify for up to $500,000.

During this step

We'll verify your income, assets, and employment, plus any applicable fees.

Step 3

Buy your next home

Make a purchase using the bridge loan for your down payment and closing costs.

During this step

Make offers and buy your next home without waiting to sell.

Step 4

Pay interest, then pay it off

Make lower, interest-only payments until your home sells.

During this step

Make interest-only payments until your home sells and the loan is paid off.

The ins & outs of bridge loans

Key benefits

Buy on your timeline

Get into your next home first and sell your old one when you can. No need to rush.

Make stronger offers

Make offers without a sale contingency by accessing funds before selling your home.

Use your own equity

Use the equity in your current home to help fund the down payment on your new place.

What's required

Home value matters

You typically need meaningful equity to qualify and secure bridge financing.

Costs worth planning for

Expect 2–5% in closing costs and monthly interest payments until you sell.

Stronger qualifications

Bridge loans fit best for buyers with modest debt and a credit score of 740+.

Explore, compare, find the right fit

Best for

Loan terms

Credit score

Borrowing limit

Bridge loan

Bridge loan
Home Equity Loan1

Bridge loan

Best for

Short-term financing to buy before selling

Loan terms

Short-term (~ 12 months)

Credit score

740+

Borrowing limit

$45,000–$500,000

Best for

Accessing cash for various needs

Loan terms

Long-term (5–30 years)

Credit score

620+

Borrowing limit

$45,000–$500,000

Learn more

Home Equity Loan1

Bridge loan
Home Equity Loan1

Home Equity Loan1

Best for

Short-term financing to buy before selling

Loan terms

Short-term (~ 12 months)

Credit score

740+

Borrowing limit

$45,000–$500,000

Best for

Accessing cash for various needs

Loan terms

Long-term (5–30 years)

Credit score

620+

Borrowing limit

$45,000–$500,000

Learn more

Bridge loan

Home Equity Loan1

Best for

Short-term financing to buy before selling

Accessing cash for various needs

Loan terms

Short-term (~ 12 months)

Long-term (5–30 years)

Credit score

740+

620+

Borrowing limit

$45,000–$500,000

$45,000–$500,000

Learn more

Legal disclaimer

1Home Equity Loan product requires full documentation of income and assets, credit score and max loan-to-value (LTV), combined loan-to-value (CLTV), and home equity combined loan-to-value (HCLTV) ratios. Requirements were updated 11/19/25 and are tiered as follows: 680 minimum FICO with a max LTV/CLTV/HCLTV of 80%, 700 minimum FICO with a max LTV/CLTV/HCLTV of 85%, and 740 minimum FICO with a max LTV/CLTV/HCLTV of 90%. Your debt-to-income ratio (DTI) must be 50% or below. Valid for loan amounts between $45,000.00 and $500,000.00 (minimum loan amount for properties located in Michigan is $10,000.00). Product is a second standalone lien and may not be used for piggyback transactions. Product not available on Ameriprise products. Guidelines may vary for self-employed individuals. Some mortgages may be considered “higher priced” based on the APOR spread test. Higher‑priced loans in the State of New York are subject to additional regulatory requirements. Additional restrictions apply. This is not a commitment to lend.

Tools to explore

Rates

Loan Options

Calculators

Articles

Questions? We’ve got answers.

Typically your current home needs to be listed for sale – otherwise you’ll need to have a listing agent agreement or a guaranteed buyout agreement in place.

You can use it to cover your down payment or closing costs on your new home or to pay off your current mortgage.

It can’t be used for debt consolidation or to pay off non-mortgage debts.

On the bridge loan, only the interest-only payment is factored into your DTI. On the purchase, your bridge loan balance can usually be excluded from debt calculations. If you have questions about your unique DTI scenario, talk to us.

Even if your home hasn’t sold, you’re still required to pay back the principal balance in full.

We’ll work with you to understand your situation and review available options, but it’s very important to plan for your current home’s timely sale when using a bridge loan.

 Learn more about bridge loans
Important legal disclosures

1Home Equity Loan product requires full documentation of income and assets, credit score and max loan-to-value (LTV), combined loan-to-value (CLTV), and home equity combined loan-to-value (HCLTV) ratios. Requirements were updated 11/19/25 and are tiered as follows: 680 minimum FICO with a max LTV/CLTV/HCLTV of 80%, 700 minimum FICO with a max LTV/CLTV/HCLTV of 85%, and 740 minimum FICO with a max LTV/CLTV/HCLTV of 90%. Your debt-to-income ratio (DTI) must be 50% or below. Valid for loan amounts between $45,000.00 and $500,000.00 (minimum loan amount for properties located in Michigan is $10,000.00). Product is a second standalone lien and may not be used for piggyback transactions. Product not available on Ameriprise products. Guidelines may vary for self-employed individuals. Some mortgages may be considered “higher priced” based on the APOR spread test. Higher‑priced loans in the State of New York are subject to additional regulatory requirements. Additional restrictions apply. This is not a commitment to lend.