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Thought bridge financing was a scam until my lender in Halifax came through in 6 days
I figured it was just a way for banks to grab another fee, but when my sale closed 3 weeks before my purchase did, that short loan saved the whole deal. Now I'm wondering if anyone else has used it and what it actually cost you compared to just renting for a month.
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charles_knight7d ago
Six days?? That is wild. My cousin waited almost three weeks for her bridge loan and nearly lost the house she was buying because of it. The gap between selling and buying is such a stress mess, so hearing a lender actually move that fast feels like a unicorn sighting. As for cost, renting for a month plus storage plus moving twice adds up quick, so a short bridge fee might not be as crazy as it sounds. Just watch the fine print on setup fees and daily interest, because those little charges stack up fast
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