 TITLE: What Is a Bridge Loan? CONTENT: When to Use a Bridge Loan\n-------------------------\nConsidering both the perks and pitfalls of using a bridge loan, there are some clear situations where it may or may not be good to apply for one.\nSpecifically, a bridge loan may be a good idea when:\n*   You qualify based on creditworthiness and equity requirements.\n*   You can't afford a big enough down payment without the equity you have in your current home.\n*   You're in a seller's market and need the strongest offer possible.\n*   Sellers in the area you're looking to buy don't accept contingent offers.\n*   You anticipate selling your current home within the next few months.\n*   You want to avoid moving twice or feeling stuck in limbo with a temporary housing situation.\nOn the flip side, a bridge loan may not be worth it if:\n*   You can qualify for a lower interest rate with a home equity loan.\n*   You're not sure when you're going to be able to sell your current home.\n*   You don't need a bridge loan to make a sufficient down payment on your new home.\n*   You're not sure you can handle making two mortgage payments simultaneously and have a bridge loan on top of them.\n*   You're in a buyer's market where contingent offers are acceptable and expected.\n*   You've managed to time things perfectly to sell your current home and use the sales proceeds to buy the new home. END