Bridge Loans for Michiganders

What is a Bridge Loan?

Although we pride ourselves on the fastest closings in the industry – with our Bridge Loan mortgage you won’t have to rush. The Treadstone Bridge Loan allows our customers to make an offer on a new home without being rushed to complete the sale of their current home. Also referred to as an equity forward mortgage or swing loan, the Bridge Loan can provide the down payment for your new home by using the equity in your current home. In many cases, making an offer non-contingent on the sale of your current home increases buying power and gives you flexibility in your homebuying process.

Of course, it’s a little more complicated than that, but that’s why you’re working with us. A Bridge Loan allows homeowners to use their current home’s equity forward to a new home purchase. The funds, sourced from the current home’s equity, can be used for closing costs, down payments, and more, to allow you to buy a new home before selling your current home.


Bridge Loan Requirements:

  • At least 25% in home equity
  • Can often be done without an appraisal if the home is currently listed on the MLS (real estate listing system)
  • Max term of 90 days
  • Minimum loan amount $40,000
  • No payments due within the 90 days (must be paid off in full at the end of the term)
  • Mortgage on “new home” must be a conventional loan

Benefits of Bridge Loans & Things to Consider

How Does it Work?

Bridge loans use a short-term loan, borrowing against your current home’s equity, to provide funds to pay for the down payment and closing costs of buying a new home, similar to a cash-out refinance. When the current home sells (separate and non-contingent) from the new home, both the original mortgage and the temporary bridge loan are paid off.

Ideally, homeowners would sell their current home before buying the next— however, it is usually not logistically, conveniently, or financially possible. Our bridge loan provides a great solution for those who qualify, and we are proud to be a bridge loan lender!

These loans also allow you to put a larger down payment on the purchase of your new home.

The bridge loan limit is 75% of your current home’s equity; that means if your home is worth $300,000, your bridge loan limit is $225,000. There are no monthly payments, and the full payment is due within 90 days after the bridge loan closes.

No matter your questions, shoot us a message, and we’ll work with you to get them answered.

Why Treadstone?

Aside from having the coolest mortgage staff on the planet… working with Treadstone on your mortgage in West Michigan gives you a distinct advantage in not only getting your offer accepted, but also in becoming a more successful and enlightened home owner.

woman working from home with dog

Michigan Bridge Loan Mortgage Rate

Bridge Loan mortgage rates fluctuate daily based on several financial indicators and trends, just like gas prices. 

To get an up-to-date quote on real-time mortgage rates, tap the button below to get in touch!

Whether you need a Lender or a Realtor, we can help!

FAQ About FHA Loans

Your home’s equity is simply your home’s value, minus the remaining mortgage balance(s). For example, if your home is worth $300,000, and you have $125,000 remaining on your existing home mortgage, your home has $175,000 in equity!

We wish we could tell you here! You’ll have to get in touch with one of our loan officers—they’ll give you a straight answer with no pressure.

Treadstone’s track record is stellar, with an average of 21 days to close— that’s 7 days faster than other lenders in Kent County.

You can borrow up to 75% of your home’s equity, with a minimum of $40,000 borrowed in “bridge” money.

Puppies, & People!

  • Locally owned & operated means local street cred when trying to get your offer accepted.
  • Real people making decisions who are accountable to you, and on your side!
  • Mission & values that are transparent & common sense
  • Puppies, lunchtime yoga, and a rooftop deck that keep our employees excited to work on your loan.
  • We close on time, every time! 
  • Local appraisers & underwriters who understand the intricacies of the market
  • The highest customer reviewed mortgage company in Michigan