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  Bridge Loan Definition
Bridge Loan If you wanted to purchase and close on a new property, but had not yet sold your previous residence and did not have cash reserves for a down payment, you would need to take out a bridge loan. The bridge loan would be the source of the funds needed for the down payment on your new property. These loans were more common when lenders were not willing to lend at a high loan-to-value ratio, but now that lenders are more lenient in regards to LTVs, these loans are no longer widely used.

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