# Bridge financing for Coquitlam move-up buyers

> Move-up Coquitlam buyers often face a timing gap: your new purchase closes before your current home sale. Bridge financing covers the gap.

**Source:** https://soldbycraig.ca/bridge-financing-coquitlam-buyers/  
**Author:** Craig Johnston, REALTOR® (BC Licence V99960) · The MACNABS · Royal LePage Elite West  
**Site:** https://soldbycraig.ca

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Buyer · Bridge Financing

## Bridge financing for Coquitlam move-up buyers — how it works.

Move-up Coquitlam buyers often face a timing gap: your new purchase closes before your current home sale. Bridge financing covers the gap. Here's the verified read on how it works in BC.

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Quick Answer

What should you know about Bridge Financing Coquitlam Buyers?

Move-up Coquitlam buyers often face a timing gap: your new purchase closes before your current home sale. Bridge financing covers the gap. Here **Craig Johnston, Top 1% Team Member — Greater Vancouver REALTORS®** and 47+ year Tri-Cities resident, can walk you through the local context. Free Strategy Call ends with a written one-page plan in 24 hours.

Verified · Buyer · Bridge Financing

## The framework.

What it is

Short-term loan from your lender to bridge the gap between buying your new home and selling your current one. Funds the down payment on the new home using the equity in your old home.

Typical duration

30-90 days. Some lenders allow up to 120 days.

Cost

Bridge loan interest typically 1-3% above your mortgage rate. Plus a flat administration fee ($200-$500).

Eligibility

Most lenders require: a firm sale on your old home (subjects removed) before approving bridge financing. Some lenders may approve based on listing alone but with stricter terms.

Maximum amount

Typically capped at 75-80% of your old home's appraised value, minus existing mortgage balance, equals the bridgeable equity.

Closing dates needed

Your lender wants to see both closing dates clearly: new home closes (you take bridge loan) → old home closes (bridge loan paid off from sale proceeds).

Risk

If your old home sale collapses after the bridge loan is funded, you're carrying both mortgages. Have a back-up plan: longer-term financing, family loan, lower-priced new purchase.

Alternative: subject-to-sale offer

Instead of bridging, you can write your new offer subject to the sale of your existing home. Sellers may accept with a 'time clause' (24-72 hr right of first refusal if they get another offer). Less reliable in hot markets.

Talk to your mortgage broker

Bridge structure varies by lender. Compare 2-3 lenders before committing.

## Talk to Craig — a 47-year Coquitlam resident and licensed REALTOR®.

No pressure. No obligation. Just a 30-minute call to talk through your specific situation.

[Book a Strategy Call](/book-a-strategy-call-with-craig-johnston/)
[Call 604-202-6092](tel:+16042026092)
[Email Craig](mailto:Craig@SoldByCraig.ca)

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