This calculator will help borrowers who are both buying and selling figure out how much they can secure in bridge financing, and at what cost.

For a step-by-step explanation of how bridge loans work, check out my post: Bridge Financing - A Solution When Buy and Sell Dates Don't Overlap.

Bridge Loan Calculator

How Much Do I Have Available From My Sale?
Current Mortgage Balance
Estimated Mortgage Penalty (Penalty Calculator)
Real Estate Commission (* lender's default assumption)
Amount Available for Bridge

How Much Do I Need For My Purchase?
Purchase Price
Approved Mortgage Amount
Initial Deposit (counts towards down payment)
Estimated Closing Costs (Closing Cost Calculator)
Subtotal
Amount Available on Existing Home-equity Line of Credit (HELOC)?
Cash From Own Resources?
Amount Needed

How Much Will My Bridge Loan Cost?

Amount Available For Bridge
Total Days Between Your Buy and Sell Dates?
Bridge Loan Rate (range is 6% to 8%)
Interest Cost
Lender Bridge-Loan Fee
Added Legal Fees (If Bridge Loan Is For More Than 30 Days: Lawyer to Confirm)

Estimated total bridge loan cost

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

www.integratedmortgageplanners.com
Phone: (416) 304-0100
Toll Free: (888) 406-3989