Question 1

How long does a bridge loan last in Emeryville?

Accepted Answer

Most bridge loans run 6 to 12 months. Some lenders extend to 24 months if your exit strategy supports it.

Question 2

Do I need to sell my home before I can close the bridge loan?

Accepted Answer

No. That's the point. You close on the new property first, then repay the bridge when your old home sells.

Question 3

What credit score do I need for a bridge loan?

Accepted Answer

Requirements vary by lender. Equity and exit strategy carry more weight than credit score on most bridge programs.

Question 4

Can I use a bridge loan to buy a condo in Emeryville?

Accepted Answer

Often yes, but lender policies on condos vary. Some require warrantable condo status. We check this before you apply.

Question 5

What happens if my home doesn't sell in time?

Accepted Answer

You'll need to refinance or extend the bridge loan. Having a backup plan is something every lender will ask about.

Question 6

Are bridge loan rates higher than conventional rates?

Accepted Answer

Yes. Bridge loans carry higher rates than conventional financing. Rates vary by borrower profile and market conditions.

Bridge Loans in Emeryville, CA — Buy Before You Sell