Question 1

How much do bridge loans cost in Fowler?

Accepted Answer

Rates run 2-4% above conventional loans with origination fees around 1-2 points. Total cost depends on how long you carry the loan before selling your current property.

Question 2

Can I get a bridge loan with equity but lower income?

Accepted Answer

Some lenders focus more on equity than income since the loan is short-term. You still need to show ability to carry both payments temporarily.

Question 3

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

Accepted Answer

Most bridge loans include extension options for 3-6 additional months. You can also refinance into permanent financing or adjust your listing strategy.

Question 4

Do bridge loans require appraisals on both properties?

Accepted Answer

Yes. Lenders appraise the new purchase and your current home to verify equity. Both appraisals happen during the underwriting process.

Question 5

How fast can I close on a bridge loan in Fowler?

Accepted Answer

Expect 2-3 weeks with complete documentation. Full appraisals and title work on both properties takes time even with experienced lenders.

Bridge Loans in Fowler: Move Fast Before You Sell