Bridge financing when purchasing a new condominium

Hello, I have equity which reduces the loan when purchasing a floor plan. ETW. My question: how do I finance (find) a bridging loan, what is such a loan called? It is about financing between the purchase of a new ETW and the sale of the old ETW. I thank you in advance for your advice

It's called a bridge loan. You can discuss it with your bank. Alternatively, you can often simply transfer the old loan to the new condominium.

hello bridge financing. a bank can offer that to you

And how exactly does it work to buy the new condominium when he basically has no equity because it is all tied up in the old, not yet sold condominium?

With appropriate creditworthiness, he receives a full loan for the new condominium, which is partially redeemed upon the sale of the old condominium. Ideally, all loans are with the same bank and this bank registers land charges on both condominiums.

The minimum "equity" is the difference between the current outstanding debt and the value or expected proceeds of the old condominium.

It only becomes difficult if the old condominium still has a very high loan-to-value ratio (meaning, for example, 100% financed) and has not really been amortized yet.

But such bridge financing is everyday business for banks. Nothing special.