The bridge loan is back. While the details of a bridge loan vary by lender, they allow a homeowner to buy a new home before selling their current home. Under a new version announced by Third Federal, for example, an owner's existing home payment is eliminated during the process. "The new mortgage product, a bridge loan, is designed to be a link, or bridge, between selling a borrower's current home and purchasing their next home," Third Federal said in a statement announcing t