Buy First, Sell Later
Use your home's equity to make a strong offer and move on your timeline.
How a Bridge Loan Solves the Timing Problem
A bridge loan is a short-term financing solution designed to "bridge" the gap between selling your current home and purchasing your new one. If you've found a new home you intend to purchase but haven't sold your existing property yet, a bridge loan lets you use the equity you've built in your current home to make a competitive offer on your next one without waiting on your sale to close.
It's Simpler Than You May Think
Here's How a CSB Bridge Loan Works1
For approved borrowers, a CSB bridge loan can be used to pay off your existing mortgage—so you're carrying your new home's mortgage and interest-only bridge loan payments while you wait for your current home to sell.
List Your Home & Open the Bridge Loan
You list your current home for sale, then apply for a CSB bridge loan. If approved, the loan may be used to pay off your existing mortgage and provide funds toward your new home purchase.
Purchase Your New Home
Approved borrowers can finance their new home with a CSB mortgage and move in—without waiting for their current home to sell first.
Make Interest-Only Payments
During the bridge loan term, borrowers make interest-only monthly payments—typically a lighter obligation than carrying a full second mortgage. The loan term is up to 12 months.
Sell Your Home, Pay Off the Loan
When your current home sells, proceeds may be used to pay off the bridge loan principal and any accrued interest. There is no prepayment penalty.
Your Move, Your Way
Get into your next home without the waiting, the worry, or the compromise.
Make a competitive offer without a home sale contingency
Move directly into your new home—no storage units or short-term rentals
Move on your timeline—not your buyer's
If approved, the bridge loan can be used to pay off your existing mortgage, replacing it with an interest-only bridge loan payment.
Ready to Get Started?
Apply for a Bridge Loan with CSB!
Start Application Now
Frequently Asked Questions
1Subject to credit approval and underwriting review. Not all applicants will qualify. Eligibility requirements include a minimum credit score of 680, a maximum debt-to-income ratio of 43%, and a maximum loan-to-value ratio of 75% on the departing home. Loan amounts range from $25,000 to $1,000,000; amounts above $1,000,000 are considered on a case-by-case basis. Available on owner-occupied primary residences only; eligible property types include single-family homes and condominiums. Multifamily properties (2-4 units) will be considered on a case-by-case basis. The Borrower's departing home must be listed for sale prior to closing, and the Borrower must finance the purchase of the new home through Cambridge Savings Bank. The bridge loan is structured as a first lien on the departing home. Loan term is up to 12 months. Interest-only monthly payments are required during the loan term, with full principal balance and all accrued interest due at the earlier of (a) the closing of the sale of the borrower's departing home or (b) the loan maturity date. There is no prepayment penalty. Borrower is responsible for an underwriting fee of $1,500 and the cost of an appraisal; borrowers with loan amounts over $500,000 are also responsible for title costs. The bridge loan is secured by the borrower's departing home; failure to make required payments or satisfy the loan at maturity may result in foreclosure.