Bridge the Gap Between Your Current Home & New Home

Bridge the Gap Between Your Current Home & New Home

  • Bob Merrill
  • 01/9/23

If you need to buy before you sell, a bridge home equity line of credit (HELOC) can help you “bridge the gap” – allowing you to use the equity in your present home as collateral for borrowing money for your new home’s down payment.


5 Thinks to know about bridge HELOCs:

  1. They are secured by your current home.
  2. They give you a revolving “line of credit” that remains available to you for a specified time period for a single draw only.
  3. They have an adjustable interest rate that is applied to the outstanding balance.
  4. Application and underwriting processes are often faster than those for traditional loans.
  5. There are fees associate with opening a bridge HELOC.

With Bell’s Bridge HELOC, you do not need to draw the funds  you need at the time of closing, but you can wait until you are ready to make the down payment on your new home.


When applying for a bridge HELOC, we generally need:

  • Personal financial information about you
  • Verification of your income from employment and other sources
  • Outstanding balance of your current mortgage
  • Estimated value of your home

Don’t let a tight housing market keep you from making an offer on your dream home. Let me show you how a bridge HELOC can help you achieve your homeownership dreams!


Bob Merrill
Senior Mortgage Banker | NMLS ID# 400595

Office:  (952) 905-5748
Mobile: (612) 986-3887

 Excelsior Office

424 2nd Street | Excelsior, MN  55331

Super Mortgage Professional 2010-2022



*Condos require an additional 5% down. Other qualifying requirements and restrictions apply. No second mortgages allowed. Available in Ariz., Colo., Fla., Kan., Minn., Mo., N.D., N.M., Tenn., Wis.

This is a promotional message. The information contained herein is for informational purposes only and does not constitute legal or tax advice. Contact a tax or legal professional prior to taking any action based upon this information. The information contained herein is based on the authorities that are subject to change and is provided on an “as is” basis without warranty of any kind. Bell Bank Mortgage does not assume any liability for any errors, omissions or damages resulting from the use of the information. This document may not be reproduced or distributed in any form without the written permission of Bell Bank Mortgage. Bell cares about safeguarding your information. Never email or text documents that contain personal or sensitive information. Please contact me to discuss possible options I can provide to securely upload documentation that may contain personal information.  

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