Question 1

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

Accepted Answer

You extend the bridge term or refinance into a conventional loan on the new property. Most lenders build 30-60 day extensions into the original agreement at higher rates.

Question 2

Can I use bridge financing for investment properties?

Accepted Answer

Yes, but lenders treat it differently than primary residence bridges. Expect higher rates and larger equity requirements since you're carrying three mortgages temporarily.

Question 3

How much does bridge financing cost beyond interest?

Accepted Answer

Budget 2-3% in origination fees plus standard closing costs. Some lenders waive appraisal on your existing home if you refinanced recently with documented value.

Question 4

Do I make payments on both mortgages during the bridge period?

Accepted Answer

Some lenders defer bridge payments until your existing home sells. Others require interest-only payments. Structure depends on your equity position and exit timeline.

Question 5

How quickly can bridge financing close in San Benito County?

Accepted Answer

10-14 days with responsive appraisers and clear title. Rural properties sometimes add 3-5 days for appraiser availability compared to metro areas.

Bridge Loans in Hollister: Fast Financing Between Properties