Because the amount you can borrow, the period you can loan money for, and other loan terms typically depend on the unique financial situations, bridging loans have to be calculated to identify the appropriate loan interest rate, repayment amount, and maximum loan amount. Complete our world-class online bridging loan calculator to find your borrower power and buy your next property with confidence!

Bridgit loans are calculated with consideration for the following fees: set-up fee, interest rate, loan deposit, valuation fees, as well as government and settlement fees. These considerations are not typically considered in a random bridge loan calculator. Our set-up fee starts from 0.99% and is calculated as a percentage of the total loan. Meanwhile, our interest rates start at 8.45%; however, we have a one month interest-free period. Please note that not all these fees may be applicable to your situation, so we advise you to complete our bridging loan calcualtor or submit an online application to find out what fees may apply to you.

If you’ve tried a bridging loan calculator before, you may have noticed that getting bridging loans can cost more than other kinds of residential loans. Bridge financing can be costlier as the interest rates depend on the borrower's creditworthiness and the loan size. However, you can also save on temporary storage rentals and moving costs, with more time to sell your existing property at a price that you are happy with since you won’t be pressured to sell it right away. In simple terms, a bridge loan can be more expensive, but it can also offer you great savings that will offset the additional costs.

At Bridgit, pricing and loan size is adjusted for security. You receive better rates for low LVRs, quality assets, and a strong credit profile. The first one month of your loan period are also completely interest-free, so if you sell your property and settle your loan within one month, only the set-up fee is required; you won’t have to pay for interest. No monthly repayments are required either, so you can just settle your loan upon maturity of the loan. If you would like to know what loan fees may be associated with your loan, you can complete our free online bridging loan calculator or contact the helpful team at Bridgit ready to assist you.

When people use a bridging loan calculator and see that their payable amount is quite high, they wonder whether they can extend a bridge loan to know whether they have enough time to sell their property and settle their loan. The short answer is yes, borrowers may extend the length of their bridge loan by a few weeks or even months, but it is still at the lender's disposal to grant the extension and what the additional conditions will be.

At Bridgit, you can borrow up to $4,000,000 for a period of up to six months (we can go higher than this, but we will need to assess the application first). You simply need to sell and settle your existing property within six months to pay back your loan, and the security over your properties will be released. If you’ve downsized into a smaller or less expensive home, there’s a good chance the sales from your property will be enough to settle your loan. In case you have upsized, and the proceeds from the property sale are not enough – meaning there is an outstanding balance – you can refinance with another lender who can provide you with a longer mortgage term.

Schedule a call now, and and speak with one of our loan experts or complete our online bridging loan calculator! You can email us at hello@bridgit.com.au or submit the online application to get started.