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Get Free AdviceTiming is everything in real estate, and when you're buying a new home before your current one sells, it can feel like walking a financial tightrope. At Equity Rich, we offer flexible bridge mortgage options that help customers switch between properties while maintaining financial stability. As a private lender specializing in equity-based lending, we provide custom-built bridge loan options to GTA homeowners who possess home equity yet need quick, short-term funding.
A bridge mortgage is a short-term financing solution that covers the gap between the purchase of a new home and the sale of your existing one. It allows you to access the equity in your current property to fund the down payment or purchase of your new home, without waiting for your existing home to sell.
The repayment of bridge loans in Canada occurs right after your current home sale transaction completes. Equity Rich provides bridge financing in Canada with equity-based approval — whether you’re upgrading, downsizing, or relocating, our bridging mortgage service enables you to access your property value while skipping traditional income and credit requirements.
A bridge mortgage is ideal for GTA homeowners who are in the process of buying a new property while their existing home is still on the market. If you have equity in your current home and need short-term financing to bridge the gap, we can help.
We look at the equity sitting in your current property, not your pay stubs. The value of the home you are selling sets how much we can advance, so a long-time owner in a neighbourhood like Leslieville or Etobicoke who has paid down most of their mortgage usually has plenty of room to work with.
Because the decision rests on property equity, we skip income proof and credit-score hurdles that slow down bank financing. That matters when a closing is days away and you need funds in place. A short-term bridge financing arrangement can often be set up far quicker than a conventional refinance, so you are not left scrambling. Our company determines approval for bridge financing through home property valuation.
The approval process leads to the distribution of a bridging mortgage that enables you to fund your new home purchase either partially or entirely.
Your bridge loan is repaid in full the day your old home closes. The balance comes straight out of the sale proceeds, so you are not making long-term monthly payments and there is no penalty for paying it off the moment the deal completes.
We work closely with you and your real estate agent to coordinate everything perfectly so your relocation becomes peaceful and trouble-free.
In a market where buyers and sellers rarely line up their closing dates perfectly, bridge financing covers the days or weeks between taking possession of your new place and collecting the proceeds from your sale.
Most bridge arrangements run from a few days up to several months. A typical scenario is a firm sale that closes two or three weeks after you take possession of the new home, and the bridge simply carries you across that gap.
Things get trickier when your old home has sold conditionally, or has not sold at all. We can still look at a longer interim arrangement based on the equity in the property, which gives you breathing room instead of forcing a rushed price cut. If you are juggling both ends of a move, our guide on selling and buying at the same time walks through how the dates connect.
Speed is the point. Because approval rests on property value rather than income documents, funds can be arranged on a short timeline, which is what makes a bridge useful when a purchase closing date will not move.
Bridge financing is priced for the short term, so you pay interest only for the period you actually hold the loan, not for years. Because it is interim money secured against your equity, the rate sits above a standard bank mortgage and reflects the speed and flexibility involved.
Expect interest to accrue daily and be settled when your sale closes, plus standard legal and administrative costs. Since most bridges last only weeks, the total dollar cost is usually modest next to the alternative, which is selling under pressure or losing the home you want to buy.
Exact rates and fees depend on the property, the loan-to-value, and how long you need the funds. We give you the full numbers in writing before you commit, so there are no surprises at closing. For a deeper walk-through of the mechanics, see what a bridge loan is and how it works.
Toronto and the wider GTA have some of the highest property values in the country, which means many owners are sitting on substantial equity even with a mortgage still in place. That equity is exactly what makes a bridge possible without proving income.
It also reflects how the local market moves. Detached listings in areas like North York, Scarborough, and Vaughan can take time to sell at the right price, while the home you want may need a firm offer now. A bridge lets you secure the purchase and sell on your own timeline rather than the buyer’s.
We lend across Toronto, Durham, York, Peel, Halton, and out to Hamilton, with a focus on the equity-rich neighbourhoods where this kind of bridge loan makes the most sense. For staying competitive when stock is tight, our piece on staying ahead in competitive markets with a bridge mortgage is worth a read.
EquityRich stands apart from other lenders because we base our bridge financing decisions on property value instead of financial history. Our lending approach differs from traditional banks, as we do not require income verification, credit score checks, or age restrictions. We provide financial assistance to self-employed individuals, retirees, and people with special financial situations through Home Equity-based Loans.
We provide maximum property borrowing potential through our 75% loan-to-value ratio. Your financing strategy becomes more flexible as our team specializes in both first and Second Mortgage positions. Equity Rich provides fast approval procedures and quick processing times that enable you to make swift decisions about your next home purchase.
No credit check. No income verification. Funds in as little as 48 hours.
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No credit check. No income verification. Our team is ready to help you unlock the value of your home.