Question 1

How quickly can I get a bridge loan approved in Pinole?

Accepted Answer

Most lenders fund bridge loans in 15-21 days with complete documentation. Expect 30 days if your income or property situation needs extra underwriting review.

Question 2

What happens if my old house doesn't sell during the bridge period?

Accepted Answer

You can usually extend 3-6 months for a fee, or refinance the bridge loan into a long-term rental mortgage. Lenders rarely force immediate sale if you're making payments.

Question 3

Do I make payments on both the bridge loan and new mortgage?

Accepted Answer

Yes, you'll pay interest-only on the bridge loan plus full payment on your new mortgage. Budget for both carrying costs during the overlap period.

Question 4

Can I use a bridge loan for investment property in Pinole?

Accepted Answer

Some lenders allow this but most require the new purchase to be owner-occupied. Investment bridge loans exist but carry higher rates and tighter terms.

Question 5

What if I owe more than 80% on my current home?

Accepted Answer

You likely won't qualify for first-lien bridge financing. Second-lien options exist but cost significantly more—often 12-15% rates with higher fees.

Bridge Loans in Pinole: Move Fast Without Selling First