Question 1

How much do bridge loans cost in Pacific Grove?

Accepted Answer

Rates run 7-12% depending on equity and lender type. Expect 1-2 points in origination fees plus potential extension fees if you need more time to sell.

Question 2

Can I get a bridge loan with a property already listed?

Accepted Answer

Yes, and it strengthens your application. Lenders view an active listing as proof of your exit strategy. A pending offer makes approval almost certain.

Question 3

What happens if my Pacific Grove property doesn't sell in time?

Accepted Answer

Most lenders offer 3-6 month extensions at 1-2 points per extension. Some require you to refinance into a longer-term loan if extensions run past 12-18 months.

Question 4

Do bridge lenders care about debt-to-income ratios?

Accepted Answer

Less than conventional lenders. They focus on equity position and exit strategy. Many use interest-only payments to keep cash flow manageable during the overlap period.

Question 5

Can I use a bridge loan for a Pacific Grove investment property?

Accepted Answer

Yes, but expect higher rates and larger down payments. Lenders price investor bridge loans 1-2% higher than owner-occupied due to increased risk.

Bridge Loans in Pacific Grove — Fast Financing Between Properties