Question 1

How long does a bridge loan last in Placerville?

Accepted Answer

Most bridge loans run 6 to 12 months. Some lenders offer extensions if your home hasn't sold yet.

Question 2

Do I need to sell my current home first?

Accepted Answer

No — that's the whole point. You close on the new property first, then sell your existing home to pay off the bridge.

Question 3

Are bridge loan rates higher than conventional rates?

Accepted Answer

Yes. Bridge loans carry higher rates due to short terms and non-QM status. Rates vary by borrower profile and market conditions.

Question 4

Can I use a bridge loan on a rural El Dorado County property?

Accepted Answer

Yes, but lenders scrutinize rural appraisals closely. Acreage properties may require a private or non-QM lender specifically.

Question 5

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

Accepted Answer

You may face extension fees or need to refinance. Know your lender's extension policy before you close the bridge.

Bridge Loans in Placerville, CA — Buy Before You Sell