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Clovis moves fast. When a property you want hits the market, waiting to sell your current home can cost you the deal.
A bridge loan gives you short-term cash to close on the new property now. You repay it when your existing home sells.
6–12 Months
Typical Loan Term
20–30% Minimum
Equity Requirement
Non-QM
Loan Type
2–3 Weeks
Est. Close Time
Typically Interest-Only
Rate Type
Bridge Loans in Clovis
Bridge loans are non-QM products. Lenders care more about your equity position than your debt-to-income ratio.
You generally need strong equity in your current home — most lenders want at least 20–30% before they'll fund the bridge.
Local decision guide
Use this guide to connect bridge loans eligibility, lender expectations, and local market factors before comparing payment options in Clovis.
Clovis moves fast. When a property you want hits the market, waiting to sell your current home can cost you the deal.
A bridge loan gives you short-term cash to close on the new property now. You repay it when your existing home sells.
Bridge loans are non-QM products. Lenders care more about your equity position than your debt-to-income ratio.
Most retail banks don't do bridge loans. You won't find this product at your local credit union branch.
Wholesale lenders and private money sources handle the bulk of these. That's where having 200+ lender relationships makes a real difference.
The biggest mistake I see: borrowers assume their bridge loan will close in a week. Budget 2–3 weeks minimum.
Also nail down your exit before you apply. If your current home isn't listable fast, some lenders will pass on the deal entirely.
Hard money loans are the closest alternative. They're faster but typically carry higher rates and fees than bridge loans.
A home equity line of credit (HELOC) can work too — but only if your current lender approves it before you're under contract on the new buy.
Clovis sits in Fresno County with a tight, competitive resale market. Contingent offers get passed over regularly.
Removing your sale contingency with a bridge loan makes your offer cleaner. Sellers in Clovis notice that — and so do their agents.
Most bridge loans run 6 to 12 months. Some lenders offer extensions if your home hasn't sold.
No — that's the point. You close on the new property first, then sell your existing home to pay off the bridge.
Requirements vary by lender. Most private lenders focus on your equity position more than your credit score.
Yes. Lenders assess your combined debt load and equity. You may carry both mortgages temporarily during the transition.
Yes — bridge loans carry a rate premium over conventional products. Rates vary by borrower profile and market conditions.
Talk to your lender about extension options before closing. Some lenders build in a 3-month extension for a fee.