Gap Financing

As its name suggests, gap finance fills the gap in your financial situation by offering you cash flow to cover immediate financial obligations. People and businesses apply for gap loans to temporarily support their ongoing expenses while they seek permanent funding or sell an asset. A gap loan can be subordinated to a bridge loan in the event the latter does not sufficiently cover other costs, such as property repairs. These loans are usually short-term, with periods of less than one year.

Applying for bridge finance at Bridgit is straightforward; complete your online application in less than ten minutes and possibly get approval within 24 hours. Our team will reach out to you with an offer, and if you accept it, you only need to make a deposit from $900 then you can enjoy a loan term of up to 12 months. Note that this is taken off your total loan amount when you settle.

After the verification process and signing of documents, you can get funds in as little as a few days. You simply need to sell your property and pay back your loan within 12 months, which is more than enough time for most people. You can save from temporary storage and living costs, and improve your chances of landing a good deal on your property sale. If there is no withstanding loan balance after your property sale, we will release all security over your properties; if there is, you may apply for refinancing from another lender who can offer you a longer term.

New home seekers can benefit from gap financing. For example, people looking to move to a new home may use the funds to make a downpayment for the home they wish to purchase. In addition, they may also be able to settle an existing mortgage.

At Bridgit, you may get a short-term property loan between $300,000 to $4,000,000 to pay for your dream house (we can lend more than this, but we will need to review your application first). Plus, we will also take on your existing mortgage, so you don’t have to deal with double mortgages.

Our goal is to help you progress in life, so we won’t let you miss out on any opportunities to buy a new home and sell your old one. We use our advanced technology to streamline the process so you can get the money you need quickly.

You may also consult our team for the most ideal loan options that suit your situation or if you need help finding and buying a new home. You may schedule a call with our friendly Aussie-based team on our platform, and we will get in touch with you shortly.

Many factors contribute to your total gap loan expense, such as your loan amount, loan term, credit profile, and the unique conditions of your lender. Gap financing is typically calculated by adding all the fees you need to pay on top of your principal loan amounts, such as the interest, set-up, valuation, and government or settlement fees.

Bridgit is always transparent with our pricing. Our prices are competitive, yet we are also unique because we don’t charge early exit fees, so you may settle your loan whenever you’re ready.
There are no monthly repayments with a Bridgit short-term bridging loan either. You may pay back your loan in full once you have already sold your property within our agreed-upon loan term. We’ll always be upfront about any costs associated with our loans, so there are no surprises on your end.

Got questions about Bridgit gap financing or perhaps interim finance? Contact us now or start your application today.