Question 1

What happens if my Daly City home doesn't sell during the bridge term?

Accepted Answer

You either extend the bridge loan with fees or refinance into permanent financing. Most lenders require proof of active marketing before approving extensions.

Question 2

Can I get a bridge loan without listing my current property?

Accepted Answer

Some portfolio lenders allow it with 35-40% equity and strong reserves. Most require an active listing agreement to reduce their risk exposure.

Question 3

How fast can bridge loans close in San Mateo County?

Accepted Answer

Portfolio lenders close in 10-21 days with clean title and appraisal. Hard money alternatives close faster but cost significantly more in rate and fees.

Question 4

Do bridge loans require two appraisals?

Accepted Answer

Yes, lenders appraise both the property you're buying and the one you're selling. They need current values to calculate total loan-to-value across both assets.

Question 5

What credit score do I need for bridge financing?

Accepted Answer

Most lenders want 680 minimum, but portfolio lenders go to 660 with strong equity. Your existing mortgage payment history carries significant weight in approval.

Bridge Loans in Daly City: Fast Financing Between Home Sales