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Short Term Home Loan Rates

Short Term Home Loan Rates: What You Must Know

Bridging loans and short term home loan rates, which many find confusing and time-consuming, have been transformed by Bridgit into a fast and efficient experience. The goal is to prevent Australians from putting their lives on hold due to slow and traditional finance processes.

If you want to know about the Bridgit home loans, specifically bridging loans, and how Bridgit can provide you with tailored bridging loan solutions, read on.

Application process for short term low-interest house loans

Aside from the competitive housing loan rates, the application process with Bridgit is straightforward and user-friendly. First, complete an online application, which takes about five to ten minutes. You will only need to provide details about your current and prospective properties.

After submitting the application, Bridgit reviews it and typically provides an approval offer within twenty-four hours. This quick turnaround allows you to move forward with your property plans with confidence.

Included in this offer will be information relating to your interest rate and loan structure.

Understanding approval timelines

Bridgit is known for its efficiency in approval timelines. This rapid process is part of Bridgit’s commitment to providing a customer-centric experience, ensuring that borrowers can quickly secure the necessary funds for their property transitions.

Bridgit’s process is designed to be less stressful and more efficient than traditional lending methods, making it a favourable option for many homeowners.

Disclaimer: Unless otherwise specified, the opinions expressed in this article are strictly for general informational purposes only and should not be taken as financial advice or recommendations. Any views are subject to change without notice at any time.
Downsizing
Upsizing

Residential Bridging Loan

Buy now, sell later

No monthly repayments
Set-up fee from 0.79%
Min $300K, max $8M

Variable Bridge Rate

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.24

%
p.a.
Comparison rate^

8.33

%
p.a.

Bridge Rate from

7.99

%
p.a.
All rates are variable.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i
Comparison Rate^ from
All rates are variable

8.08

%
p.a.
Apply now
Up to 12 month loan term
Up to 80% LVR
Owner-occupied, investment

Residential Bridging Loan

Buy now, sell later

No monthly repayments
Set-up fee from 0.79%
Min $300K, max $8M

Variable Bridge Rate

We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

8.74

%
p.a.
Comparison rate^

8.84

%
p.a.

Bridge Rate from

7.99

%
p.a.
The Bridge rate applies at the start of the loan term. All rates are variable.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i

Stay Rate1 from

7.04

%
p.a.
After the existing properties are sold and there is the residual loan balance remaining, the Stay Rate1 is applied.
All rates are variable.
We offer an introductory rate for the introductory period of the loan term which includes a 1% discount.
i
Comparison Rate^ from
All rates are variable

7.19

%
p.a.
Apply now
Up to 12 month loan term
Up to 80% LVR
Owner-occupied, investment

Get 24 hour approval

Apply nowSchedule a call

Why buy before you sell with Bridgit?

No income verification

We assess loans based on property equity and asset position.

No monthly repayments

No monthly repayments or fees for the duration of the loan term

No double mortages

We’ll pay your existing mortgage, so you don’t have to worry about two mortgages at once.

Save on temporary living

Move into your home sooner and avoid short-term rental, storage and moving costs.

No missed opportunities

Don’t miss out because of slow processes, unlock your property equity in 24 hours.

Apply nowSchedule a call

Trusted by customers
who Bridgit

Customer Service at its best.

Everyone I dealt with at Bridgit was helpful and responsive. Candice (BDM) checked in with me regularly to make sure everything was going smoothly and Andrew kept me in the loop. I recommend Bridgit highly.
- Sue Farnham

Going above and beyond for results

The priority that was placed on this file and constant updates was truly appreciated. Thank you for using common sense and finding a solution for our client’s needs on an oddly zoned security.
- Nicole Fox

Great Team

During the stressful times of obtaining Finance, the BRIDGIT Team came to thefore. We are most grateful for their advice and support.
- MTW

The team at Bridgit were remarkably talented

The team at Bridgit were remarkably talented and understands the pressing issues the situation demands. I cannot thank them enough for stepping up to a life saving situation for customers.
- Jehan Fernando

We are so happy we chose Bridgit

We are so happy we chose Bridgit over a bank. Tom, George and Ken assisted us all the way. They explained everything and made the process easy and stress free. We cannot recommend Bridgit highly enough.
- Felicity F

Definitely worth a try

If you're thinking about getting a bridging loan I'd recommend giving Bridgit a try. I found Bridgit to be way more efficient than the big banks. The communication was great too.
- Michael
Trustpilot

Get 24 hour approval with Bridgit

01

Submit application

Apply online and receive 24 hour approval. Tell us some details about yourself and see how much you can borrow.

02

Accept the offer

Accept your loan offer by making a small upfront deposit and progress your application to the next stage.

03

Purchase your property

Once we’ve valued the property and completed final verifications, sign the documents and you are on your way to settlement in as little as 48hrs*.

*Subject to the loan scenario and outgoing lender processes onrefinance (if applicable).

04

Sell

Sell your existing property and pay down your Bridgit loan. No rush, you have up to 12 months.

Apply NowSchedule a call
Frequently Asked Questions (FAQ)

What factors influence short-term home loan rates?

Economic indicators and market conditions like inflation and economic growth are just a few of the variables that affect short-term home loan rates. Here are some of the factors that are considered:

Property value and condition. The value of the property being used as security for the loan, as well as its condition, can influence the rate. A higher-valued property in good condition might secure more favourable short term mortgage rates.

Borrower’s credit history. A strong credit history can positively impact the interest rate, as it indicates a lower risk to the lender.

Market conditions. Economic factors and housing market trends can affect short term home loan rates. They may fluctuate based on overall market conditions.

Borrower’s financial situation. This includes income, employment status, and overall financial stability. Lenders like Bridgit assess these factors to determine the borrower’s ability to repay the loan.

Type of loan product. At Bridgit, we offer no monthly repayments on our bridging loans. However, take note that different loan products from different short term private lenders may have different rates.

Fees and charges. While not directly affecting the interest rate, associated fees (like setup fees) can impact the overall cost of the short term property loan.

What should I be mindful of when choosing a short-term home loan lender?

Here are the other factors to be mindful of when choosing a short term mortgage lender:

Interest rates and fees. Understand the interest rates and any additional fees (like setup fees) associated with the loan.

Loan terms. Look at the duration of the loan and what happens when it ends. Bridgit, for example, offers loans for up to 12 months. Ensure the term aligns with your ability to repay, especially if you plan to sell your existing property to pay off the loan.

Repayment flexibility.,/b> Check if there are any early exit fees or penalties for short term lending early repayment. Bridgit does not charge early exit fees, which can be a significant advantage when considering short term home loan rates.

Approval process. Consider how quick and straightforward the application and approval process is. Bridgit offers a twenty-four-hour approval process and a simple online application for quick home loans, which can be crucial if you need funds quickly.

Customer support. Good customer service can be invaluable, especially in complex transactions like short term property funding. Look for lenders who offer excellent customer support, which is among the strengths of Bridgit. We don’t only provide adjustable home loan rates; our service is customer-centric, so you won’t hesitate to raise your concerns and queries.

Lender’s reputation. Research the lender’s reputation in the market. We at Bridgit pride ourselves as a progressive lender using technology to streamline the lending process for short term loans, ultimately helping homeowners buy their dream home before they sell.

Additional benefits. Some lenders offer extra benefits, like Bridgit covering existing mortgages, which means you don’t have to worry about managing two mortgages simultaneously.

Bridgit: empowering homeowners to buy their dream homes

Since its establishment in 2021, Bridgit has helped many Aussies acquire their dream homes without the immediate need to sell their existing properties, a groundbreaking approach in the property finance sector.

At the heart of Bridgit’s philosophy is the commitment to utilising cutting-edge technology for today’s market needs. Recognising the lag in the industry, particularly regarding bridging loans, Bridgit is a solution that ensures that customers no longer pay the price for outdated practices.

Bridgit’s innovative approach is not just about speed. The technology is designed to simplify processes, thereby making property financing more accessible and less burdensome for homeowners. If you are ready to feel empowered and get to the next step of acquiring your dream home, call us and let’s see how we can be of service to you.

Bridging essentials

What is Bridging Finance & How does it work?
Is a type of bridge finance?
Who owns bridging finance?
What is bridging finance Australia?
A woman wearing headphones and a black shirt.

Aussie based crew

We’re here to help, if you have any questions get in touch.

Weekdays 9am – 5:30pm

1300 141 161
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Disclaimer
‍
Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.

1 The Stay Rate will only apply if a repayment is made from the sale of Outgoing Properties (or another repayment method approved by us, at our discretion) and the repayment reduces the Amount You Owe to an amount that is equal to or less than your Residual Loan Balance.
‍
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. For Upsizer loans, a Bridge Rate applies for the first 12 months, followed by a Stay Rate thereafter. For Downsizer loans, only the Bridge Rate applies. WARNING: This comparison rate is true only for the example provided and may not include all fees and charges. Different loan amounts, terms, or fee structures will result in different comparison rates. For interest-only periods, your loan balance does not reduce, meaning you may pay more interest over the life of the loan. Set-up fee from 0.79% and government charges apply.