BRIDGE LOANS
ONTARIO

HOW MUCH DO YOU WANT TO BORROW?



    Bridge Loan Solutions in Ontario

    If you’re a homeowner looking to make your next real estate move, but your current home has yet to sell, you may be struggling to secure the capital you need to take that next step.

    Burke Financial is an award-winning mortgage broker specializing in residential bridge loans. We work with Canada’s largest network of mortgage broker partners, which allows us to provide bridge financing options at the best rates across Ontario.

    If you’re planning to buy a new home and need access to funds as you await the sale of your current property, our team of experts will set you up with a competitive bridge home loan while you wait for your current home to sell. We will find the best possible loan rate from our vast network of banks and credit unions.

    We offer bridge financing throughout Ontario.

    Bridge Loan Solutions in Ontario
    Bridge Financing Burke Financial

    Bridge Financing

    Bridge financing, also known as a bridge loan, refers to temporary loaned funds secured by your existing home that, quite literally, bridges the gap between a new home’s sales price and the home buyer’s new mortgage. This type of financing will typically occur in the event the buyer’s existing home hasn’t yet sold before closing. The equity you acquire from a bridge financing acts as a stepping stone to the next stage in your homeownership journey.

    Bridge loans are a short-term solution that typically ranges from three-to-six months in length, although they can extend up to 12 months or longer. To be eligible for a mortgage using a bridge loan, a firm sale agreement must be in place on your existing home. Homeowners most commonly consider this financing method in hot real estate markets like the GTA, where bidding wars are the norm, and you need to make a quick decision to snag your dream home without worrying if your existing house has sold yet. When you sell, you can use the proceeds to pay off the loan and any accrued interest.

    Burke Financial specializes in residential and real estate bridge financing and helping Canadians reach their full financial potential. Every homeowner’s experience is unique, which is why we treat every client with the utmost care. We offer a personalized approach to bridge financing and work closely with our broad network of bridge loan lenders to provide our clients with a high level of service.

    At Burke Financial, we help create the best bridge financing solutions for homeowners across Ontario.

    Bridge Loans For All Situations

    Financing bridge loans for real estate markets are becoming increasingly popular in Ontario. Our clients are seeing the potential and jumping on the opportunity to acquire the equity they need to further their investments.

    Bridge loan lenders act as a gateway between homeowners and their future investments. When traditional lenders offer only obstacles and extended processing times, a private lender provides a new and convenient way to access your earned equity.

    When homeowners have been turned away from banks due to low credit or incurred debts, they can come to Burke Financial. We believe every household is entitled to equity in their home, and we work tirelessly to find the best mortgage bridge financing rates on the market.

    There are considerable benefits that can come with obtaining a residential or commercial bridge loan for your mortgage.

    Bridge Loans For All Situations
    Zero Restrictions

    ZERO
    RESTRICTIONS

    You can purchase a new home and put the existing home on the market with zero restrictions.

    Potential to Earn

    POTENTIAL
    TO EARN

    You have the potential to earn a few months free of payments.

    Purchasing Power

    PURCHASING
    POWER

    You can still purchase a new home even after removing the contingency to sell under certain circumstances.

    Why Choose Burke Financial

    Burke Financial works with Canada’s largest network of mortgage broker partners, which gives us access to the highest quality resources and the best rates available across Canada. We help our clients understand the process of bridge financing in Ontario to ensure they have all of the information they need to make sound financial decisions.

    We are invested in our clients’ needs, questions, and concerns. As a premier mortgage brokerage specializing in bridge financing in Ontario, our goal is to combine our extensive experience with a personalized level of care. Our priority is our client’s interests above and beyond everything else.

    If you’re planning to buy a new home and need access to funds as you await the sale of your current home, let our team of experts set you up with a competitive bridge loan. We’ll tap into our extensive network of banks, credit unions, and private lenders to find the best mortgage and bridge loan rates.

    Get in touch with Burke Financial today to learn about your mortgage-based bridge loan options.

    Top Choice Award Brokerage of the Year 2021
    Better Business Bureau A Accredited Business
    Canadian Mortgage Brokers Association Member

    Contact Us Today

    Feel free to contact us anytime with any questions that you have. We are here to help every step of the way!

    388 Granton Drive (Unit 1)
    Richmond Hill, ON L4B 1H7
    Canada
    Brokerage # 13111
    Phone:
    1-877-709-0709
    Email: [email protected]

      Frequently Asked Questions

      A bridge loan, or bridge financing, is a standard borrowing option for homeowners trying to transition between selling their current property and purchasing a new home. It’s a temporary mortgage financing option designed to help you close the gap between the time your existing home is sold and buying a new property.

      Bridge financing helps homeowners whose equity is tied up due to their current home’s closing date.  If the date for the home you’re purchasing is before the date of the one you’re selling, you’re likely going to be without a down payment for the new house. This borrowing option gives homeowners the temporary loan they need to secure their next property.

      Working with a bridge loan lender can put you in an advantageous financial position, especially if this is your first time selling a home. Markets like Toronto, Hamilton, and Ottawa, where bidding wars are common, and homeowners need to make swift decisions or risk losing their dream home, often benefit from taking out a loan through bridge financing. We help you find the lender that can match your financial goals and secure the best available rates. Our expansive network of banks, credit unions, and private lenders offer Ontario homeowners an overflowing supply of possibilities.

      To qualify for a residential bridge loan, a lender will require a copy of the firm Agreement of Purchase and Sale from your current home, in addition to the purchase agreement from the new property. You may be required to own at least 15 percent of your home’s equity to be considered. If you’re unsure where you stand financially, our award-winning team of brokers have the tools and know-how to get even the most complicated of applications approved.

      You have the potential to receive financing for up to 85 percent of the value of your current property. Every lender has its unique borrowing standard, so it’s essential to have a brokerage specializing in mortgages and bridge loan rates like Burke Financial.

      Burke Financial makes getting a home equity bridge loan a seamless experience. We know how much financial stress can come from purchasing and selling homes, especially in metropolitan cities with booming markets like Kitchener, Hamilton, Toronto, and Ottawa. No matter where you are in Ontario, we have the resources and expert team to help our clients access the funds they need in as little as 48 hours. Instead of wasting time waiting for traditional bank approvals, a mortgage brokerage can side-step the red tape and offer a more convenient, faster way to put your home equity in your pocket.

      If you’ve struggled with maintaining healthy credit in the past and are looking to purchase a new property, a residential bridge loan for your home could benefit your current and future financial standing. Traditional lenders often have strict policies in place, which prevent many homeowners from obtaining the equity that bridge financing could provide.

      Burke Financial specializes in helping property owners with credit scores below the average 650 standards. We comb through our network of private lenders, MICs, investors, and banks to find the perfect match. Once we’ve made that connection, you’re provided with a lump sum payment with a clear repayment plan and reasonable interest rate.

      Making those payments on-time will strengthen your credit and put you in a fortunate position to make further investments down the road.

      Burke Financial works with Canada’s largest network of mortgage broker partners, which give us access to the very best mortgage rates and bridge loan services across Ontario. If you’re planning to purchase a new home and need access to equity while you wait for your current property to sell, let our team of experts set you up with competitive bridge financing.