Question 1

How long does a bridge loan last in California?

Accepted Answer

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

Question 2

Do I need to sell my home before applying?

Accepted Answer

No. The bridge loan is designed for exactly this situation. Your current home just needs enough equity to secure the loan.

Question 3

Can I get a bridge loan if I'm self-employed?

Accepted Answer

Yes. Bridge loans are non-QM products, so lenders evaluate equity and exit strategy more than tax returns.

Question 4

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

Accepted Answer

You'll need a clear exit plan before closing. Lenders may offer extensions, but that's not guaranteed and adds cost.

Question 5

Are bridge loan rates higher than regular mortgage rates?

Accepted Answer

Yes, they carry higher rates than conventional loans. The tradeoff is speed and flexibility. Rates vary by borrower profile and market conditions.

Question 6

How much can I borrow with a bridge loan in San Bernardino County?

Accepted Answer

Loan amounts depend on your equity and the lender's guidelines. There's no county-specific cap on bridge loans.

Bridge Loans in Redlands, CA — Buy Before You Sell