Question 1

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

Accepted Answer

Most lenders offer 6-month extensions at higher rates, typically adding 2-3%. Some require payoff or conversion to hard money terms if you hit 12 months unsold.

Question 2

Can I get a bridge loan if I still owe 70% on my current mortgage?

Accepted Answer

Probably not—most lenders want 20-30% equity minimum. With 30% equity, you're borderline and rates jump to reflect the risk.

Question 3

Do bridge loans require appraisals on both properties?

Accepted Answer

The new purchase always needs an appraisal. Your current home usually gets a desktop or drive-by valuation, not a full interior appraisal.

Question 4

How much does bridge financing typically cost in Marin County?

Accepted Answer

Bank options run 5-8% with 1-2 points upfront. Private lenders charge 8-12% with 2-4 points—higher rates buy you more time and flexibility.

Question 5

Can I use a bridge loan to buy a fixer-upper in Fairfax?

Accepted Answer

Not really—bridge loans assume you're buying move-in ready and selling quickly. For fixers, construction loans or hard money make more sense.

Bridge Loans in Fairfax: Fast Financing for Marin County Property Moves