Net proceeds, not sale price
Subtract the existing mortgage payout, selling costs and other obligations. Only then compare what is available with the cash needed for the purchase.
Bridge financing · BC & Alberta
Two homes.
One well-planned move.
When your new home closes before the old one, the dates can leave a cash gap. Check the timing, the net sale proceeds and the lender’s conditions before committing.
Plan my move with a brokerStart with your dates
Will the closings overlap?
Your timingTwo dates to compare
Enter both closing dates to see the calendar gap.
A timing illustration, not a loan quote. Closing delays, lender limits and funding cut-off times still matter.
Follow the money
Your sale equity arrives later. The purchase cannot wait.
- 01
Before the purchase closes
Confirm the new mortgage and the bridge approval. Review the purchase and firm sale agreements, dates and the net proceeds available after the sale costs and mortgage payout.
- 02
During the overlap
Bridge funds cover the approved shortfall. Budget for the costs of owning both homes and the bridge interest during this period.
- 03
When the sale closes
The lawyer handles the sale proceeds, mortgage payout and bridge repayment. Confirm the remaining cash after all closing adjustments.
Before you sign
Plan for the gap—and for a delay.
If the current home is not firmly sold, say so immediately. That changes the financing discussion and may make changing the closing dates or selling first a more practical option.
Prepare once
Bring both sides of the move.
- Purchase agreement for the new property and its closing date
- Sale agreement for the existing property, including any conditions
- Current mortgage statement and payout estimate
- New mortgage approval details and lawyer or notary contact information
- Cash available for deposits, closing costs and the overlap
Clear answers
Before you decide
What is mortgage bridge financing?
It is short-term borrowing intended to cover a funding gap when the purchase of your next home closes before sale proceeds from your current home are available. The bridge is normally repaid from the sale proceeds.
Can I get a bridge loan before my home is sold?
Many standard lender bridge programs require a firm sale agreement. An unsold home may need a different financing arrangement, with different costs and risks. Do not assume an expected sale price guarantees access to a bridge loan.
What does a bridge loan cost?
Ask for the interest rate, how interest days are counted, setup or administration fees, legal costs and any minimum charge. The amount and duration of borrowing affect the cost, and a delayed sale may add costs or require an extension.
Do I need bridge financing when both homes close on the same day?
There may be no calendar gap, but your lawyer still needs to coordinate the sale proceeds and purchase funding. Confirm the timing before assuming all sale funds will be available for the purchase.
Rules & references
How we prepare our guidanceSources checked September 6, 2026. Lender approval and product eligibility depend on your complete application.
Pragmatic Mortgage Lending · BC & Alberta
Make the closing dates work together.
We’ll review both transactions, the expected sale proceeds and the options for covering the gap.