Question 1

What happens if my home doesn't sell before the bridge loan matures?

Accepted Answer

Most lenders offer 6-month extensions at 1-2% fee. Some require you to refinance into a longer-term loan if the property remains unsold.

Question 2

Can I use a bridge loan to buy investment property in Orange Cove?

Accepted Answer

Yes, if you're selling another investment property. Lenders underwrite the equity position and exit strategy the same way.

Question 3

How much can I borrow with a bridge loan?

Accepted Answer

Typically 70-80% of your current property value. Loan amounts depend on existing equity and the purchase price of your new property.

Question 4

Do bridge loans require an appraisal on both properties?

Accepted Answer

Yes, lenders order appraisals on the property you're selling and the one you're buying. Expect 7-10 days for both reports.

Question 5

What if I can't qualify to carry both mortgage payments?

Accepted Answer

Some lenders use 75% of projected rental income on your current home to offset the payment. You need a signed lease to qualify.

Bridge Loans in Orange Cove — Fast Financing Between Properties