Question 1

How much can I borrow with a bridge loan in Kerman?

Accepted Answer

Most bridge loans range from 70-80% of your current home's value. The exact amount depends on your equity position and the lender's guidelines.

Question 2

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

Accepted Answer

Many lenders offer extensions for additional fees. Some require you to refinance into a traditional mortgage or bring funds from other sources to repay the bridge loan.

Question 3

Are bridge loan rates higher than conventional mortgages?

Accepted Answer

Yes, bridge loans typically carry higher interest rates due to their short-term nature and additional risk. Rates vary by borrower profile and market conditions.

Question 4

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

Accepted Answer

Absolutely. Many investors use bridge loans to acquire rental properties or fix-and-flip projects while securing permanent financing or waiting for other property sales.

Question 5

Do I need an appraisal for both properties?

Accepted Answer

Yes, lenders typically require appraisals on both your existing property and your new purchase to determine loan amounts and ensure adequate collateral.

Bridge Loans in Kerman: Fast Financing for Property Transitions