Question 1

How long does a bridge loan last in Buena Park?

Accepted Answer

Most bridge loans run 6 to 12 months. Some lenders offer extensions if your home hasn't sold yet.

Question 2

Do I need to sell my home first to qualify?

Accepted Answer

No. That's the point. You borrow against your current home's equity to close on the new property first.

Question 3

What credit score do I need for a bridge loan?

Accepted Answer

There's no universal minimum. Lenders focus heavily on equity and your plan to repay. Rates vary by borrower profile and market conditions.

Question 4

Can I use a bridge loan for an investment property in Buena Park?

Accepted Answer

Yes. Bridge loans work for owner-occupied and investment properties. Investor deals often come with stricter equity requirements.

Question 5

Are bridge loan rates higher than conventional rates?

Accepted Answer

Yes, typically. These are short-term, higher-risk products. Rates vary by borrower profile and market conditions.

Question 6

How fast can a bridge loan close?

Accepted Answer

Faster than conventional loans — sometimes within 2 weeks. Speed depends on the lender and how quickly you provide documents.

Bridge Loans in Buena Park, CA