Bridge MortgageOntario. Buy Before You Sell.From 9.99%. Closed in 24–48 Hours.

A bridge mortgage is a short-term loan (30 days to 12 months) that lets you buy a new Ontario home before your existing home sells. It 'bridges' the gap between the purchase closing date and the sale proceeds from your current property. lendsimpl arranges bridge mortgages across Ontario through banks, B-lenders, and private lenders — FSRA #13763.

Closed bridge (firm sale in place): priced at Prime + 2–3% — confirmed at application based on the current prime rate. Open bridge (no firm sale, private): higher than closed bridge rates, confirmed based on your equity position, property, and term. Commercial bridge: confirmed based on property type, LTV, and term. Bridge rates are higher than standard mortgages because terms are short and risk is concentrated. Total cost stays modest because bridges typically pay out in 30–90 days.

Not always. An open bridge (private lender) does not require a confirmed sale — your home can be listed but unsold. A closed bridge (bank lender) requires a firm, unconditional sale agreement. Open bridge rates are higher (8.99–14%) but the term is short. lendsimpl arranges both options.

Interest: closed bridges are priced at Prime + 2–3%, confirmed at application. Administrative/lender fee: $500–$2,500. Legal fees: $500–$1,500 for bridge registration and discharge. The total dollar cost of your specific bridge — interest, fees, and legals — is provided to you in writing before you commit. Open bridges via private lenders cost more per day but discharge fully when your sale closes.

Yes. Private open bridge lenders approve based on equity in your existing Ontario property — not credit score. With sufficient equity, a private bridge can be arranged without income documentation. Minimum equity requirements are confirmed at assessment.

A HELOC is revolving and tied to your existing home's equity; you'd typically need to qualify under the standard stress test. A bridge is a single advance designed for a specific timing gap — often easier to qualify for with a firm sale and faster to fund. Bridges discharge automatically when your sale closes.

Closed bridges (bank): 3–7 business days from complete application to funding. Open bridges (private): 24–48 hours for commitment, 3–10 business days to fund. Emergency bridge closings have been completed in 48 hours when the timeline demands it. Call (416) 299-6096 for a same-day assessment.

Bank closed bridges: 30–180 days (some lenders to 12 months with firm sale). Private open bridges: 30 days to 12 months standard, up to 24 months in some cases. Commercial bridges: typically up to 24 months. The term should match your realistic sale or refinance timeline.

Yes. lendsimpl arranges commercial bridge financing on multi-unit residential, mixed-use, retail, industrial, and office properties across Ontario. Rates typically 9.49–14% depending on property type, LTV, and term. Commercial bridges often used for construction completion, repositioning, or pending sale of another commercial asset.

Banks require full underwriting for bridges, which can take 5–10 business days and won't approve without a firm sale. lendsimpl accesses the full private lender market — MICs, trust companies, and individual investors — which approve and fund bridges in 24–72 hours. For firm-sale bridges, bank options are also available at the lowest closed-bridge rates.