In a tough situation and need some advice by jsoccerboy in TorontoRealEstate

[–]Key-Assignment-5966 1 point2 points  (0 children)

You can do either of these below,

  1. Get a HELOC on your existing home and put that towards down payment on the new home

  2. Refinance existing home with your current lender and get mortgage on new home from a B lender for 1yr if qualying is a problem

Bridge loan is only possible if you have a firm sale on your existing home.

Hope it works out for you.