Question 1

How much can I borrow with a Clayton bridge loan?

Accepted Answer

Most lenders allow up to 80% combined loan-to-value across both properties. Your borrowing power depends on equity in your current Clayton home and the purchase price of your new property.

Question 2

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

Accepted Answer

Many bridge loans include 3-6 month extensions for additional fees. Some lenders may require you to refinance into permanent financing or reduce the price of your listed property.

Question 3

Can I get a bridge loan if my Clayton home isn't listed yet?

Accepted Answer

Some lenders require active listing while others approve based on your commitment to list within 30 days. Having a realtor and pricing strategy ready strengthens your application.

Question 4

Are bridge loan rates higher than regular mortgages in Contra Costa?

Accepted Answer

Yes, bridge loans typically run 2-4 percentage points above conventional rates. The higher cost reflects short-term risk and quick funding timelines. Rates vary by borrower profile and market conditions.

Question 5

Do I make payments on a bridge loan?

Accepted Answer

Most bridge loans require interest-only monthly payments. Some lenders defer all payments until your property sells, rolling interest into the loan balance instead.

Bridge Loans in Clayton: Fast Financing Between Properties