Photonic time-frequency entanglement is a promising resource for quantum information processing technologies. We investigate swapping of continuous-variable entanglement in the time-frequency degree of freedom using three-wave mixing in the low-gain regime with the aim of producing heralded biphoton states with high purity and low multi-pair probability. Heralding is achieved by combining one photon from each of two biphoton sources via sum-frequency generation to create a herald photon. We present a realistic model with pulsed pumps, investigate the effects of resolving the frequency of the herald photon, and find that frequency-resolving measurement of the herald photon is necessary to produce high-purity biphotons. We also find a trade-off between the rate of successful entanglement swapping and both the purity and quantified entanglement resource (negativity) of the heralded biphoton state.
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