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Bridging Loan Calculator

When getting a bridging home loan, or any type of loan for that matter, one of the primary considerations is the total cost of bridging loans for a house purchase. Here at Bridgit, we have built a world-first bridging loan calculator so you can get an accurate estimate of your borrowing power before submitting an application.

If you’re wondering how to buy a house when you haven't sold yours yet, bridging property finance is one of the best options to go for. If you’re unsure what a bridging loan is and how it works, it is basically a type of loan that lets you borrow against your existing property equity so you can fund a new house before your existing property has sold.

The bridging company you borrow from will lend you a certain amount of money for a specific period so you can buy your next property. When your existing property is sold, the proceeds will be used to pay off the loan. Because this type of loan can be complex, calculating the fees such as the bridging finance rates can be challenging, so instead it's important to look to a reliable bridge loan lender and use an accurate bridging loan calculator, like Bridgit's, to get bridging loan advice.

At Bridgit, we take pride in our unbeatable customer support where you can consult our loan specialists about anything related to bridge finance. If you plan to apply for a bridging loan in Melbourne or anywhere in Australia, you can request assistance from our team to understand more about how it works and your scenario. Fund your next dream home with us.
Owner-occupied
Investment

Residential Bridging Loan

Buy now, sell later

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

8.24

%
p.a.

Variable 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

8.33

%
p.a.
Comparison rate
Apply now
Up to 12 month loan term
Up to 80% LVR
Downsizers, upsizers, retirees

Residential Bridging Loan

Buy now, sell later

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

8.74

%
p.a.

Variable 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

8.84

%
p.a.
Comparison rate
Apply now
Up to 12 month loan term
Up to 80% LVR
Downsizers, upsizers, retirees
The Bridgit Loan Calculator

Buy now, sell later

$
$
$
$
Buy new property
(less contribution)
$800,000
Existing
mortgage
$500,000
Sell existing
property
$2,000,000
Your estimated loan calculation
Estimated principal amount
$1,300,000
Your cash after sale
$700,000
Estimated principal amount
$1,300,000
(LVR 43%)
Based on the information provided your Loan to Value Ratio (LVR) may be too high. To help you we require some additional information; feel free to get a quote or schedule a call with our team.
Get a quote

Please submit an application or quote to receive a detailed breakdown of your loan amount.

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
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

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

*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
How are bridging loans calculated?
Because the amount you can borrow, the period you can loan money for, and other loan terms typically depend on the unique financial situations, bridging loans have to be calculated to identify the appropriate loan interest rate, repayment amount, and maximum loan amount. Complete our world-class online bridging loan calculator to find your borrower power and buy your next property with confidence!

Bridgit loans are calculated with consideration for the following fees: set-up fee, interest rate, loan deposit, valuation fees, as well as government and settlement fees. These considerations are not typically considered in a random bridge loan calculator. Our set-up fee is calculated as a percentage of the total loan. Please note that not all these fees may be applicable to your situation, so we advise you to complete our bridging loan calcualtor or submit an online application to find out what fees may apply to you.

Are bridging loans more expensive than other types of home loans?
If you’ve tried a bridging loan calculator before, you may have noticed that getting bridging loans can cost more than other kinds of residential loans. Bridge financing can be costlier as the interest rates depend on the borrower's creditworthiness and the loan size. However, you can also save on temporary storage rentals and moving costs, with more time to sell your existing property at a price that you are happy with since you won’t be pressured to sell it right away. In simple terms, a bridge loan can be more expensive, but it can also offer you great savings that will offset the additional costs.

At Bridgit, pricing and loan size is adjusted for security. You receive better rates for low LVRs, quality assets, and a strong credit profile. No monthly repayments are required, so you can just settle your loan upon maturity of the loan. If you would like to know what loan fees may be associated with your loan, you can complete our free online bridging loan calculator or contact the helpful team at Bridgit ready to assist you.

an bridging loans be extended?
When people use a bridging loan calculator and see that their payable amount is quite high, they wonder whether they can extend a bridge loan to know whether they have enough time to sell their property and settle their loan. The short answer is yes, borrowers may extend the length of their bridge loan by a few weeks or even months, but it is still at the lender's disposal to grant the extension and what the additional conditions will be.

At Bridgit, you can borrow up to $4,000,000 for a period of up to 12 months (we can go higher than this, but we will need to assess the application first). You simply need to sell and settle your existing property within 12 months to pay back your loan, and the security over your properties will be released. If you’ve downsized into a smaller or less expensive home, there’s a good chance the sales from your property will be enough to settle your loan. In case you have upsized, and the proceeds from the property sale are not enough – meaning there is an outstanding balance – you can refinance with another lender who can provide you with a longer mortgage term.

Schedule a call now, and and speak with one of our loan experts or complete our online bridging loan calculator! You can email us at hello@bridgit.com.au or submit the online application to get started.

Bridging essentials

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.
‍
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. Comparison rates for interest only loans will not reduce your loan balance. This may mean you pay more interest over the life of the loan. Bridging Loan set up fee is from 0.79% and government charges apply.