What is a bridge loan and when should I use one in Washington?

A bridge loan is a short-term mortgage — typically 6–12 months — that lets you access your current home's equity to fund the purchase of a new home before your old home sells. In Washington's competitive market, bridge loans let buyers make non-contingent offers on their next home without waiting for a sale. They're more expensive than traditional financing and carry real risk if the departing home takes longer to sell than expected. Run the numbers carefully — but for the right situation, a bridge loan is the difference between getting the house and losing it.