Bridge loans are short-term loans that help homeowners bridge the gap between selling their current home and purchasing a new one. These loans provide temporary financing to cover the down payment on a new home until the current home is sold. Bridge loans offer flexibility and convenience during the transition period.

- Comparative advantages: Temporary financing option to bridge the gap between buying a new home and selling the current one. Allows for quick purchase without contingency offers.
- Absolute advantages: Provides immediate funds for a down payment on a new home. Can be used to avoid the need for a contingent sale.