Interim financing is when a short-term financing is required and can be obtained through a Bridge Mortgage, Private Mortgage or Deposit Financing. Interim financing can be a first, second or third mortgage that is typically paid off in less than two years, usually less than 1 year for Private Mortgages, less than 90 days for Bridge Mortgages and less than 60 days for Deposit Financing. Interim financing is typically used when the sale of the buyer’s current home closes after the purchase of his or her new home closes.