Question 1

How quickly can I get a bridge loan approved in Walnut Creek?

Accepted Answer

Most bridge lenders can approve loans within 3-5 business days and fund within 7-10 days total. This speed assumes you have documentation ready and clear title on your existing property.

Question 2

What happens if my current home doesn't sell during the bridge loan term?

Accepted Answer

Most bridge loans include extension options for additional fees. Alternatively, you can refinance into permanent financing or explore other solutions with your lender before the term expires.

Question 3

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

Accepted Answer

Yes, though lenders prefer seeing active listings or market preparation. You'll need strong equity and clear plans to list within 30-60 days of closing your bridge loan.

Question 4

Do bridge loans work for investment properties in Contra Costa County?

Accepted Answer

Bridge loans typically serve primary residence transitions. For investment properties, hard money loans or investor-specific products usually provide better terms and structure.

Question 5

What's the typical down payment requirement with bridge financing?

Accepted Answer

Your equity in the current property often serves as the down payment. Lenders typically advance 70-80% of your existing home's value toward the new purchase.

Bridge Loans in Walnut Creek: Fast Financing Between Properties