If I don’t close on the sale of my old home before I am ready to close on my new home, I won’t have enough money to close on my new home. Then what?

Depending on the urgency of completing the closing, it may be possible to simply delay the closing of your purchase until you are prepared to close on your sale. If this is not possible, you can apply for a bridge loan. This is a temporary, short-term loan that provides you with the funds necessary to close on your purchase and which is later paid off with the proceeds upon the sale of your home.