www.integratedmortgageplanners.com - Phone: (416) 304-0100 Toll Free: (888) 406-3989

Bridge Loan Calculator

For a step-by-step explanation of how bridge loans work, check out my post: Bridge Financing - A Solution When Buy and Sell Dates Don't Overlap.

How Much Do I Have Available From My Sale?
Sale Price of Existing Property
Current Mortgage Balance
Estimated Mortgage Penalty (Penalty Calculator)
Real Estate Commission (* lender's default assumption)
Amount Available for Bridge
How Much Do I Need For My Purchase?
Purchase Price
Approved Mortgage Amount
Initial Deposit (counts towards down payment)
Estimated Closing Costs (Closing Cost Calculator)
Subtotal
Amount Available on Existing Home-equity Line of Credit (HELOC)?
Cash From Own Resources?
Amount Needed For Bridge
How Much Will My Bridge Loan Cost?
Bridge Loan Amount Needed
Total Days Between Your Buy and Sell Dates?
Bridge Loan Rate (range is 6% to 8%)
Interest Cost
Lender Bridge-Loan Fee
Added Legal Fees (If Bridge Loan Is For More Than 30 Days: Lawyer to Confirm)
Estimated total bridge loan cost