bridge loan

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Term: bridge loan

Description: A bridge loan is a short-term financing option that helps bridge the gap between the purchase of a new property and the sale of an existing one. This type of loan is typically used in real estate transactions where quick funds are needed.

Senses and Usages:

Noun - Refers to a financial loan that provides temporary funding between the sale of an old property and the purchase of a new one. It is used to cover the period between the closing dates of the two properties.

Sample Sentence 1: John took out a bridge loan to secure the new house while waiting for his current property to sell.

Sample Sentence 2: The couple relied on a bridge loan to avoid losing the opportunity to buy their dream home.

Verb - To obtain or provide a bridge loan.

Sample Sentence 3: The bank agreed to bridge loan the buyers until their old house was sold.

Sample Sentence 4: She planned to bridge loan the down payment for her new condo.

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