Question 1

How fast can a bridge loan close in Greenfield?

Accepted Answer

Most bridge lenders fund in 7-14 days once appraisal completes. Rural properties may add 3-5 days for specialized appraisers familiar with Monterey County ag land.

Question 2

What happens if my current home doesn't sell during the bridge term?

Accepted Answer

You can refinance into a conventional loan or extend the bridge term for a fee. Some lenders offer 6-month extensions at 1-2 points if your home shows active buyer interest.

Question 3

Can I get a bridge loan with multiple properties already owned?

Accepted Answer

Yes, but lenders cap total leverage across your portfolio. Expect stricter equity requirements and higher rates when you own three or more properties in Monterey County.

Question 4

Do bridge loans require income verification like conventional mortgages?

Accepted Answer

No. Bridge lenders underwrite on equity and exit strategy, not debt-to-income ratios. You still need to show how you'll repay when your current property sells.

Question 5

Are bridge loan interest payments tax deductible in California?

Accepted Answer

Consult a CPA. Interest on loans secured by your primary residence may qualify, but tax treatment varies based on how you use the funds and property type.

Bridge Loans in Greenfield: Fast Financing Between Property Transitions