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im benjamin beaver and i have information that you may or may not want okay bridge loans whats a bridge loan so the idea is to bridge the gap on a short period of time that you have not sold your current house so what a bridge loan essentially is is where a bank says hey we see that you have some equity in your current house so well go ahead and consider that and we will loan you money to up to 100 of the purchase price to buy a new house so this is a great option when you dont want to deal with a contingency contract which ill explain in another video or if youre in a competitive market so if youre in a competitive market the seller is basically looking for the easiest deal that they can so they they want they want to be easy on them so when youre saying hey i want to buy your house but its contingent because i need to sell mine but then someone else makes them an offer like hey we can close in three weeks or four weeks and its more solid then theyre gonna pick the other of
