Question 1

How long does a bridge loan last in Garden Grove?

Accepted Answer

Most bridge loans run 6 to 12 months. That gives you time to sell your current home without pressure.

Question 2

Do I need to sell my home first to qualify?

Accepted Answer

No. The whole point is buying before you sell. Lenders just need enough equity in your existing property.

Question 3

What credit score do I need for a bridge loan?

Accepted Answer

Most lenders want 650 or above. Strong equity can sometimes offset a lower score depending on the lender.

Question 4

Are bridge loan rates higher than conventional rates?

Accepted Answer

Yes. Bridge loans carry higher rates because they're short-term and non-QM. Rates vary by borrower profile and market conditions.

Question 5

Can I use a bridge loan for an investment property in Garden Grove?

Accepted Answer

Yes. Bridge loans work for both primary residences and investment properties. Lender terms differ for each.

Question 6

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

Accepted Answer

Some lenders allow extensions. Discuss your exit strategy upfront — a clear sale timeline protects you.

Bridge Loans in Garden Grove — Buy Before You Sell