Question 1

How fast can I close a bridge loan in Beaumont?

Accepted Answer

Most bridge loans close in 2-3 weeks with clean title and appraisal. Rush closings possible in 10-14 days if you pay expedite fees.

Question 2

What happens if my old house doesn't sell in time?

Accepted Answer

You can usually extend 3-6 months for a fee, or refinance into a traditional mortgage. Some lenders require forced sale after 12 months.

Question 3

Can I use a bridge loan for investment properties?

Accepted Answer

Yes, but rates run higher and down payments increase to 30-35%. Lenders view investor deals as higher risk than primary residence moves.

Question 4

Do I make two mortgage payments during the bridge period?

Accepted Answer

Usually just interest-only on the bridge loan plus your new mortgage payment. Your old mortgage gets paid off when that property sells.

Question 5

What credit score do I need for bridge financing?

Accepted Answer

Most lenders want 620 minimum, but 680+ gets better rates. Your equity matters more than credit for approval decisions.

Bridge Loans in Beaumont: Fast Financing Between Properties