Question 1

How quickly can I get a bridge loan in Burbank?

Accepted Answer

Most bridge loans close within two to four weeks. Some lenders can approve and fund in as little as ten business days if you have strong equity and documentation ready.

Question 2

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

Accepted Answer

You can typically extend the bridge loan for a fee or refinance into a traditional mortgage. Planning an exit strategy upfront protects you from this scenario.

Question 3

Can I use a bridge loan for investment properties in Burbank?

Accepted Answer

Yes, but terms differ from primary residence bridge loans. Investment property bridge financing often has higher rates and different qualification requirements.

Question 4

Do bridge loans require two appraisals in Los Angeles County?

Accepted Answer

Usually yes. Lenders appraise both your current home and the new property you're purchasing. Both values determine your loan amount and terms.

Question 5

Are bridge loan interest rates higher than regular mortgages?

Accepted Answer

Yes, rates vary by borrower profile and market conditions but expect higher costs. The convenience and speed come at a premium compared to traditional financing.

Bridge Loans in Burbank: Fast Financing for Your Property Transition