No Payment Bridge Loan Vs Sell My House Fast Calculator
How to Use This Bridge Loan Vs Cash Offer Calculator
Step 1
Add Your New Home Details
Enter the new home’s sales price, first down payment, mortgage rate, term, and closing costs.
Step 2
Add Your Current Home Details
Enter the expected sale price, mortgage payoff, monthly home costs, debts, and repairs.
Step 3
Add The Cash-Offer Fees
Enter the cash-offer company’s fee so you can compare what each option costs.
Step 4
Compare What You Keep
See the bridge cost, cash-offer fee, estimated timelines, and how much equity you keep.
Step 5
See How Recasting Lowers Your Payment
Apply the net proceeds from your current home’s sale to the new mortgage and see the new payment.
Add The Details For Your Next Home Purchase
Enter the price, down payment, and closing costs for your next home.
Our Bridge Loan: No Payments For 12 Months
2. Your Current Home: Value, Debts To Pay Off, And Repairs
That is $130,000 down.
Estimated at 3% of the price ($19,500).
Illustrative rate. Change this to your expected rate. This is not a rate quote.
Original Mortgage Term
Illustrative term. 30 years is preselected. Change it to your expected term.
Add Your Current Home Details
Enter the expected sale price, mortgage payoff, monthly home costs, debts, and repairs.
Paid each month until your home sells.
Paid each month until your home sells.
Leave at $0 if you have no HOA.
What it takes to get your home ready to sell.
Bridge Loan Amount
$177,000
No payments and nothing out of pocket for the first 12 months.
How Long Until Your Home Sells?
The sooner it sells, the less you pay.
Your Total Cost If It Sells In 6 Months
$15,503
- Paid from your sale proceeds, not up front
- Includes $325 a month for taxes, insurance, and HOA while your home is for sale
- Closing usually takes 15 to 20 days, about the same as a cash offer company
Add Your Sell My House Fast For Cash Fees
Enter the fees the sell my house fast for cash company would charge.
The Typical Cash Offer: 6% Off The Top
Most companies charge 5% to 7%.
Estimated at 3% of the sale price ($15,000).
Projected Net Proceeds
What comes out of your sale before you walk away with cash.
Cash Offer Fee At 6%
$30,000
- Taken right off the top of your sale price
- The same whether they resell in 1 month or 6
- You still pay your closing costs and mortgage payoff
What Does The 6% Fee Actually Buy?
- Speed and certainty, paid out of your equity at closing.
- Offers usually come in below full market value.
- Repair credits can lower the offer again after the inspection.
- You still owe your mortgage payoff and closing costs.
- The fee never drops, no matter how fast the sale closes.
Compare The Results
See our bridge loan cost versus Sell My House Fast For Cash offer, and how much more money you keep based on when your home sells.
Side By Side: Bridge Loan Vs Sell My House Fast For Cash Offer
What You Keep With A Bridge Loan
$14,497
That Is 48% Less Than The 6.0% Cash Offer Fee
A cash offer company charges $30,000 plus closing costs. Your bridge loan costs $15,503 at 6 months, and you still list and sell on the open market.
Bridge Loan Cost (6 Months)
$15,503
Origination, underwriting, title, and carrying costs
Cash Offer Cost (6.0% Fee)
$30,000
Fee taken off the top of your sale
You Keep
$14,497
48% less than the cash offer fee
| Payoff Timeline | Bridge Loan Cost | Cash Offer Fee | You Save | Percent Saved |
|---|---|---|---|---|
| 3 Months | $10,108 | $30,000 | $19,892 | 66% |
| 6 Months | $15,503 | $30,000 | $14,497 | 48% |
| 9 Months | $20,899 | $30,000 | $9,101 | 30% |
| 12 Months | $26,294 | $30,000 | $3,706 | 12% |
How Much You Save With A Bridge Loan
How Much More A Cash Offer Costs
These figures are estimates, not a quote. Bridge loan costs include 1% origination, title fees estimated at 1.1%, and a $995 underwriting fee. Closing costs on your next home are estimated at 3%. Actual costs vary by location and by the terms of your contract.
See How The Costs And Savings Are Calculated
Open this section for a detailed breakdown of the bridge loan costs, cash-offer fees, and where the savings come from.
See How The Costs And Savings Are Calculated
Open this section for a detailed breakdown of the bridge loan costs, cash-offer fees, and where the savings come from.
How It Works And Where The Savings Come From
Bridge Loan Costs Are Deducted From Your Loan Proceeds
You do not pay these costs when you apply. They are deducted from the bridge loan proceeds when your loan closes.
Estimated at 1.1% of your bridge loan amount, subject to change based on your state and county.
9.99% builds up on your loan amount. Nothing is due until your home sells.
Origination is 1% of your bridge loan amount. Title fees are estimated at 1.1%, subject to change based on your state and county.
Estimated Cost Based On When Your Home Sells
| Payoff Timeline | Bridge Closing Cost One time, deducted from net proceeds | Carrying Cost Paid when your home sells | Total Cost | Savings Vs Cash Offer |
|---|---|---|---|---|
| 3 Months | $4,712 | $5,396 | $10,108 | $19,892 or 66% Savings |
| 6 Months | $4,712 | $10,791 | $15,503 | $14,497 or 48% Savings |
| 9 Months | $4,712 | $16,187 | $20,899 | $9,101 or 30% Savings |
| 12 Months | $4,712 | $21,582 | $26,294 | $3,706 or 12% Savings |
are your monthly taxes, insurance, HOA, and bridge loan interest until your home sells.
Why A Bridge Loan Wins
- Nothing out of pocket. Fees come out of your loan at closing.
- No monthly payment for a full 12 months.
- You list and sell on the open market instead of taking a discounted offer.
- Debts you choose get paid off at closing, and your repair money, down payment, and closing costs are advanced.
- You buy your next home first and move on your own schedule.
- Your cost drops the sooner your home sells.
How The Cash Offer Works
- They keep 6.0% of the sale price, the same whether they resell in one month or six.
- That is $30,000 out of your equity at closing.
- You still pay your closing costs and mortgage payoff.
- Repair credits and price changes can lower the offer further.
See How Recasting Lowers Your Payment
Choose how much cash from your sale to keep and how much to put toward the mortgage on your new home.
See How You Can Reduce Your New Mortgage Payment After Your Old Home Sells
After your current home sells, we pay off its mortgage, selling costs, and the bridge loan. You choose how much of the cash left to keep and how much to put toward the mortgage on your new home.
What Does Recasting Mean?
You put cash toward your mortgage, then ask us to recalculate your payment using the lower balance. Your interest rate and remaining payoff schedule stay the same. Your required monthly principal-and-interest payment goes down.
This is the cash estimated to remain after the mortgage on your current home, selling costs, and all bridge-related amounts are paid.
See How We Calculated This
Repairs, debts, the down payment on your new home, and its closing costs are already included in the bridge loan principal. We do not subtract them twice.
We’ll carry these numbers, your mortgage rate, and your loan term to the next page. You only choose how much cash to put toward the mortgage.
Common Questions
The questions homeowners ask most before choosing between a bridge loan and a cash offer.
Common Questions
The questions homeowners ask most before choosing between a bridge loan and a cash offer.
How much do cash home buying companies charge?
Sell my home for cash companies typically charge a service fee of 5 to 7 percent of the sales price, and that comes out of your proceeds on top of normal seller closing costs. This calculator defaults to 6 percent so you can see the dollar cost of that convenience against a bridge loan.
How does a bridge loan with no payments for 12 months work?
You pull equity out of your current home to pay off debt, complete repairs, cover closing costs, and make the down payment on your new home. There is no monthly payment for the first 12 months. Interest accrues at 9.99 percent and is paid off when your current home sells.
What does the bridge loan cost?
A 1 percent origination charge on the total loan amount, a 995 dollar underwriting fee, title fees estimated at 1.1 percent of the loan amount, and carrying cost of 9.99 percent annually on the loan amount for the months the loan is outstanding. The faster your home sells, the less it costs.
Is a bridge loan cheaper than selling to a cash offer company?
It can be. The answer depends on your home value, the cash-offer fee, the bridge loan amount, and how soon your current home sells. This calculator compares both options using the numbers you enter so you can see the estimated cost and projected difference for your situation.
Want These Numbers Reviewed For Your Situation?
Send your scenario to Michael Thayer and his team, or book a call directly below.
Prefer to talk it through? Pick a time that works for you.
Booking unlocks once you send your scenario, so Michael has your numbers before the call.
Your information is used only to respond to your mortgage inquiry and is not sold. This is not a loan application and does not constitute any type of formal loan approval.
For educational and illustration purposes only. This is not a loan approval, a commitment to lend, or an offer to purchase. Bridge loan pricing, fees, carrying costs, and payoff amounts vary by property, credit profile, title work, and the final terms of your approved loan. Cash offer amounts and fees charged by Sell My Home For Cash Companies vary by company and market. Confirm all figures with Mike and his team and your preferred title company.