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Jeff Smith of Coldwell Banker Residential Brokerage in Southern California discusses bridge loans in this tutorial. He explains that a bridge loan is a short-term loan that allows you to use the equity from your current home to buy a new property without selling your current home. In a competitive market where homes sell quickly, bridge loans can help you make a non-contingent offer on a new property, increasing your chances of securing it. Smith also covers how to qualify for bridge loans.
