Question 1

How quickly can I close a bridge loan in Portola Valley?

Accepted Answer

Bridge loans typically close in 7-14 days, much faster than conventional mortgages. The speed depends on having your current property's equity position documented and clear title on both properties.

Question 2

What happens if my current home doesn't sell during the bridge loan term?

Accepted Answer

Most bridge loans include extension options for additional fees. You can also refinance into conventional financing on one property or explore other exit strategies with your lender before the term expires.

Question 3

Can I get a bridge loan if I still have a mortgage on my current Portola Valley home?

Accepted Answer

Yes, bridge loans work with existing mortgages. The lender calculates your available equity after the current mortgage balance, requiring sufficient equity to support the combined loan amount across both properties.

Question 4

Do bridge loans require property appraisals in San Mateo County?

Accepted Answer

Most bridge lenders require appraisals on both your current property and the new purchase. This protects both parties by establishing accurate loan-to-value ratios and confirming sufficient equity positions.

Question 5

Are bridge loan interest rates negotiable?

Accepted Answer

Rates vary by borrower profile and market conditions, with room for negotiation based on your equity position, credit strength, and relationship with the lender. Stronger financial profiles typically secure better terms.

Bridge Loans in Portola Valley: Fast Financing for Premium Property Transitions