Question 1

How long does bridge loan approval take in Martinez?

Accepted Answer

Most approvals happen in 3-5 business days. Funding occurs 7-14 days from application if your property appraises clean.

Question 2

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

Accepted Answer

You can extend most bridge loans 3-6 months for a fee. Some lenders require a price reduction on your listing to approve extensions.

Question 3

Can I use a bridge loan for investment properties?

Accepted Answer

No, bridge loans work for primary residence transitions only. Consider hard money loans for investor purchases in Martinez.

Question 4

Do I need to make payments during the bridge period?

Accepted Answer

Depends on the lender. Some defer all payments until sale, others require monthly interest-only payments.

Question 5

What if my Martinez property has an existing mortgage?

Accepted Answer

Bridge loans work in first or second position. Lenders calculate loan amount based on combined loan-to-value across both liens.

Bridge Loans in Martinez: Fast Capital Between Properties