Bridge Loan

A short-term loan secured by the borrower's current home (which is usually for sale) that allows the proceeds to be used for building or closing on a new house before the current home is sold. Also known as a "swing loan."

A loan to "bridge" the gap between the termination of one mortgage and the beginning of another, such as when a borrower purchases a new home before receiving cash proceeds from the sale of a prior home. Also known as a swing loan.

A short-term loan paid back relatively fast. Normally used until a long-term loan can be processed.

A form of interim loan, generally made between a short-term loan and a permanent (long-term) loan, when the borrower needs to have more time before taking the long-term financing. For this survey, this is not a mortgage.