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In this video, Jeff Traran, the Mortgage Pro, explains bridge loans, which are short-term financing options typically lasting 6 to 12 months. These loans are designed to "bridge the gap" between selling one property and purchasing another until permanent financing is secured. In the current real estate market, bridge loans have become increasingly relevant for buyers who already own a home and are looking to buy a new one, particularly due to the challenging supply conditions for new homes. This financing option can facilitate easier home sales for buyers navigating the competitive market.
