Question 1

How long does bridge loan approval take in Colma?

Accepted Answer

Approval takes 3-5 days with a full application. Funding happens 7-14 days from approval if appraisals and title come back clean.

Question 2

Can I get a bridge loan if my current property isn't listed yet?

Accepted Answer

Most lenders require a listing agreement or proof of marketing within 30 days of funding. You can apply before listing but need a clear exit timeline.

Question 3

What happens if my property doesn't sell before the bridge loan matures?

Accepted Answer

You face a balloon payment equal to the full loan balance. Most lenders offer 6-month extensions for a fee, but rates increase by 1-2 points.

Question 4

Do bridge loans work for investment properties in San Mateo County?

Accepted Answer

Yes, but expect higher rates and lower LTV maximums. Lenders cap combined loan-to-value at 65-70% for non-owner-occupied purchases.

Question 5

Can I use a bridge loan to buy before closing on a new construction home?

Accepted Answer

No. Bridge loans require an existing property you own with equity. New construction purchases need construction-to-perm loans or delayed financing instead.

Bridge Loans in Colma: Fast Financing for Property Transitions