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Bridge Financing/Fully Open Term

Mortgage product details

Max LTV:
75%
Quick Details
Maximum Mortgage
$1,200,000.00
Min Credit Score
650
Available In
126
Communities

“Subjects came off their current home last week but their new place closes Friday…”

Here’s a funny thing about bridge financing: everyone thinks it’s complicated. It’s not. Someone needs to close on their new house before their old house sells. Or their sale fell through after they removed subjects on their dream home. Or they found the perfect downsizer condo but haven’t listed the family home yet.

Banks? They’ll politely explain why this is impossible. Too risky. Too short-term. Too much paperwork for a loan that might last three weeks.

We’ll have it funded by Thursday.

The slightly absurd economics of traditional lending

Banks make their money on the long game. They want your mortgage for 25 years, not 25 days. The math is simple: spending three hours underwriting a mortgage that pays out next month is terrible business. For them.

But here’s what they miss – that retiree in Parksville isn’t asking for charity. They’ve got a $900K house, want to buy a $400K condo, and just need someone to float them the difference for two months. The equity’s sitting right there. Twice over, actually.

The risk isn’t in the loan. The risk is in making people sell their home before buying the next one, in a market where the perfect property might not come up again for years.

Why bridge financing actually exists (hint: it’s not about the interest)

Forget everything you know about mortgage pricing. We don’t make money on bridge loans the way banks make money on mortgages.

Traditional mortgage math: Low/no origination fee + closed term interest rate for years = profit

Our bridge math: Fair origination fee + open term interest rate for weeks = everyone wins

We charge 1.5-3% upfront. Your client pays (or more commonly - accumulates) interest for maybe six weeks. A few months if the market’s slow. Often less. We’re completely fine if they pay us out a week after funding. Fully open. No penalties. No sob stories about lost profit.

The bank would call this insane. We call it Tuesday.

Who actually uses bridge financing?

The downsizing seniors who’ve lived in their 4-bedroom Salmon Arm house for 30 years. Found the perfect condo near the grandkids. But imagine telling them they need to sell first, move twice, maybe miss out on the place they want. We register on their current home, they buy the condo, list when they’re ready. Simple.

The upgrading family whose offer just got accepted on a bigger place. Their current home will sell – good neighborhood, priced right – but not in the next two weeks. Banks see timing risk. We see two properties worth more than the loan.

The relocating professional who got the job offer in Victoria but lives in Kamloops. New job starts in a month. No time for the traditional sell-then-buy dance. We’ll carry both properties until the dust settles.

The caught-in-the-middle buyer whose buyer’s financing fell through a week before closing. They’ve already removed subjects on their next place. Deposits at risk. Moving trucks booked. We fund it. Crisis averted.

The mechanical beauty of inter alia mortgages

Here’s something the banks literally can’t do: secure one mortgage across two properties. They’ve got systems, regulations, check boxes that say one mortgage = one property.

We’ve got common sense.

Your client needs $400K to close on their new place. Their old place is worth $600K with a $200K mortgage. New place is worth $500K. Instead of complicated second mortgages and multiple applications, we do one mortgage across both properties. Total value: $1.1M. Total debt including our bridge: $700K. That’s 63% LTV across the portfolio.

When the old house sells, we discharge it from title, get paid out, everyone moves on. It’s almost embarrassingly simple.

A quick reality check on the numbers

Senior couple in Qualicum Beach. House worth $850K, no mortgage. Buying a townhouse for $425K.

  • Without bridge financing: List house, wait, hope the townhouse is still available, maybe rent in between, move twice, storage costs, stress level 11/10

  • With bridge financing:

    • Bridge loan: $425K
    • Our fee (2%): $8,500
    • Interest (10% for 2 months): $7,083
    • Total cost: $15,583
    • Peace of mind: Priceless
    • Coffee with grandkids in new kitchen while old house gets staged: Actually priceless

Versus renting for two months ($3,000), moving twice ($4,000), storage ($500), and the therapy bills from the stress? We’re basically free.

Why small-town BC needs this more than anywhere

In Vancouver, your house sells in a weekend. Multiple offers. Cash buyers. The buy-sell timing barely matters.

In Mackenzie? Port McNeill? 100 Mile House? Different story. Houses sell, but on their own timeline. Could be two weeks. Could be four months. You can’t time the market when the market runs on small-town rules.

That’s why bridge financing isn’t just convenient in places like ours – it’s essential. It lets people make rational decisions about their biggest asset without playing chicken with the real estate market.

The institutional inability to think short-term

Big banks have shareholders. Quarterly earnings. Efficiency metrics. A bridge loan that pays out in six weeks? That’s not a product to them, it’s a problem. Their computer systems literally don’t know what to do with a mortgage designed to disappear.

We’re privately funded. Our investors are happy with their returns. A good bridge loan that pays out clean is a win for everyone – borrower gets their house, broker gets paid (fast), we make our fee, investors get their return.

No spreadsheet at head office saying this is inefficient. No algorithm declining it because the term is too short. Just people lending to people who need a few weeks to sort out their lives.

Here’s the thing about bridge financing

It shouldn’t need to exist. In a perfect world, every sale would line up with every purchase. Closings would synchronize. The universe would cooperate.

But that’s not how life works. Especially not in British Columbia, where your perfect retirement townhouse might be 300 kilometers from the house you’re selling. Where markets move at different speeds. Where timing is everything and nothing lines up.

We exist because reality is messy. Because good people with good equity need a few weeks of flexibility. Because sometimes the smartest financial decision is the one that lets you sleep at night in the house you actually want to buy.

Bridge financing isn’t complicated. It’s just lending for the space between what is and what should be. In a province where that space can be pretty wide, sometimes you need a lender willing to build that bridge.

Even if it’s only there for six weeks.

Detailed Product Information
Maximum Mortgage
$1,200,000.00
Max LTV
75.0%

70%

Minimum Credit Score
650
Underwriting Notes

Yes. Expected days on market for either property cannot exceed 150 days.

Required Documents
Document Name Description Tags
Identification Two pieces of ID (front and back), where at least one piece is government issued photo identification.
Credit Bureau An Equifax credit bureau for each borrower on the application, pulled within 30 days of submission.
Subject Property Appraisal An appraisal of the property by one of our approved appraisers.
Available Communities
Communities where Bridge Financing/Fully Open Term is available:
Community Name Max LTV Special Terms
Salmon Arm 70.0% Standard product terms
Chetwynd 45.0% Standard product terms
Colwood 70.0% Standard product terms
Courtenay 70.0% Standard product terms
Cranbrook 70.0% Standard product terms
Dawson Creek 60.0% Standard product terms
Duncan 65.0% Standard product terms
Fernie 65.0% Standard product terms
Fort St. John 55.0% Standard product terms
Kamloops 70.0% Standard product terms
Kimberley 65.0% Standard product terms
Langford 70.0% Standard product terms
Merritt 60.0% Standard product terms
Nelson 70.0% Standard product terms
Parksville 70.0% Standard product terms
Port Alberni 60.0% Standard product terms
Powell River 65.0% Standard product terms
Prince Rupert 60.0% Standard product terms
Quesnel 55.0% Standard product terms
Rossland 60.0% Standard product terms
Terrace 65.0% Standard product terms
Vernon 70.0% Standard product terms
Victoria 70.0% Standard product terms
Williams Lake 60.0% Standard product terms
100 Mile House 55.0% Standard product terms
Barriere 55.0% Standard product terms
Clearwater 55.0% Standard product terms
Elkford 55.0% Standard product terms
Esquimalt 70.0% Standard product terms
Highlands 70.0% Standard product terms
Houston 45.0% Standard product terms
Hudson's Hope 45.0% Standard product terms
Invermere 65.0% Standard product terms
Lake Country 70.0% Standard product terms
Lantzville 65.0% Standard product terms
Lillooet 55.0% Standard product terms
Mackenzie 50.0% Standard product terms
Metchosin 70.0% Standard product terms
New Hazelton 50.0% Standard product terms
North Cowichan 65.0% Standard product terms
Peachland 65.0% Standard product terms
Port Hardy 60.0% Standard product terms
Saanich 70.0% Standard product terms
Campbell River 65.0% Standard product terms
Stewart 35.0% Standard product terms
Summerland 65.0% Standard product terms
Taylor 50.0% Standard product terms
Tumbler Ridge 55.0% Standard product terms
Ucluelet 60.0% Standard product terms
Vanderhoof 55.0% Standard product terms
Wells 50.0% Standard product terms
Sun Peaks 60.0% Standard product terms
Comox 65.0% Standard product terms
Creston 65.0% Standard product terms
Golden 65.0% Standard product terms
Ladysmith 70.0% Standard product terms
Lake Cowichan 65.0% Standard product terms
Oliver 60.0% Standard product terms
Port McNeill 55.0% Standard product terms
Princeton 50.0% Standard product terms
Qualicum Beach 65.0% Standard product terms
Sidney 70.0% Standard product terms
View Royal 70.0% Standard product terms
Ashcroft 60.0% Standard product terms
Burns Lake 50.0% Standard product terms
Chase 60.0% Standard product terms
Clinton 50.0% Standard product terms
Cumberland 65.0% Standard product terms
Fraser Lake 45.0% Standard product terms
Granisle 35.0% Standard product terms
Hazelton 50.0% Standard product terms
Kaslo 55.0% Standard product terms
Lumby 60.0% Standard product terms
Lytton 40.0% Standard product terms
McBride 50.0% Standard product terms
Nakusp 55.0% Standard product terms
New Denver 55.0% Standard product terms
Port Alice 60.0% Standard product terms
Pouce Coupe 50.0% Standard product terms
Radium Hot Springs 60.0% Standard product terms
Salmo 55.0% Standard product terms
Sayward 55.0% Standard product terms
Tahsis 45.0% Standard product terms
Telkwa 45.0% Standard product terms
Valemount 55.0% Standard product terms
Warfield 60.0% Standard product terms
Armstrong 65.0% Standard product terms
Enderby 65.0% Standard product terms
Kelowna 70.0% Standard product terms
Nanaimo 70.0% Standard product terms
Sooke 50.0% Standard product terms
Gibsons 65.0% Standard product terms
Osoyoos 65.0% Standard product terms
Alert Bay 45.0% Standard product terms
Zeballos 35.0% Standard product terms
Revelstoke 70.0% Standard product terms
Trail 60.0% Standard product terms
Coldstream 65.0% Standard product terms
Fort St. James 45.0% Standard product terms
Sicamous 65.0% Standard product terms
Sparwood 55.0% Standard product terms
Smithers 70.0% Standard product terms
Canal Flats 55.0% Standard product terms
Gold River 50.0% Standard product terms
Montrose 60.0% Standard product terms
Pemberton 65.0% Standard product terms
Slocan 55.0% Standard product terms
Penticton 70.0% Standard product terms
Prince George 65.0% Standard product terms
West Kelowna 70.0% Standard product terms
Kitimat 60.0% Standard product terms
Logan Lake 55.0% Standard product terms
North Saanich 70.0% Standard product terms
Oak Bay 60.0% Standard product terms
Port Edward 50.0% Standard product terms
Spallumcheen 65.0% Standard product terms
Tofino 55.0% Standard product terms
Cache Creek 55.0% Standard product terms
Fruitvale 55.0% Standard product terms
Keremeos 55.0% Standard product terms
Midway 55.0% Standard product terms
Silverton 55.0% Standard product terms
Castlegar 65.0% Standard product terms
Grand Forks 55.0% Standard product terms
Greenwood 55.0% Standard product terms
Northern Rockies 45.0% Standard product terms