Bridge Loan

[ggonzo]

What is Bridge Loan? Did you ever take a bridge loan? Is it wise to do so?

[Canadian]

A bridge loan is temporary financing you can get your permanent financing. For example if you live in a condo and you buy a house, you can get a bridge loan, which will be partially repaid when your condo is sold. The rest of the bridge loan will be repaid from the permanent financing.

[trent]

What do you mean by "is it wise"? You eaither need a bridge loan or you don't.

[ggonzo]

What do you mean by "is it wise"? You either need a bridge loan or you don't.

To be honest I didn't know what a bridge loan is in the first place. Now after Canadian explained it make sense.

Thanks

[Canadian]

I'm glad I was able to help.