Question 1

What happens if my old house doesn't sell before the bridge loan expires?

Accepted Answer

Most lenders offer a 6-month extension at a higher rate. Some require the extension fee upfront. I build this contingency into every bridge loan structure.

Question 2

Can I get a bridge loan on an investment property in Menlo Park?

Accepted Answer

Yes, but expect lower LTV limits. Lenders typically cap investment property bridges at 70% combined loan-to-value versus 80% for primary residences.

Question 3

How fast can a bridge loan close in Menlo Park?

Accepted Answer

10-15 days with complete documentation. I've closed in 7 days when the borrower had an appraisal from the last 6 months and strong equity position.

Question 4

Do I make two mortgage payments during the bridge period?

Accepted Answer

You pay interest-only on the bridge portion and your existing mortgage. Once your old home sells, the bridge loan pays off and you're left with one payment.

Question 5

What equity percentage do I need for a Menlo Park bridge loan?

Accepted Answer

Minimum 20% after the bridge loan funds, but 30% is safer for properties over $2 million. More equity gets you better rates and faster approval.

Bridge Loans in Menlo Park: Fast Financing for Tech Corridor Property Moves