Question 1

How quickly can I get a bridge loan in San Bruno?

Accepted Answer

Most bridge loans fund within 7-14 days from application. Some lenders can close in as little as 5 days if you have all documentation ready and clear title on your current property.

Question 2

What happens if my San Bruno home doesn't sell during the bridge period?

Accepted Answer

Most bridge loans include extension options for an additional fee. Alternatively, you can refinance into a longer-term loan or rent out your original property to cover payments while continuing to market it.

Question 3

Can I get a bridge loan with tenants in my current property?

Accepted Answer

Yes, occupied properties can qualify for bridge loans. However, lenders may adjust terms based on the rental income and the timeline for transitioning the property to a sale.

Question 4

Do I need to make payments on both mortgages simultaneously?

Accepted Answer

Payment requirements vary by lender. Some bridge loans defer all payments until sale, others require interest-only payments, and some expect full principal and interest on the bridge portion.

Question 5

Are bridge loans only for primary residences in San Bruno?

Accepted Answer

Bridge loans work for primary residences, second homes, and investment properties. Each property type has different qualification requirements and rates vary by borrower profile and market conditions.

Bridge Loans in San Bruno: Fast Financing for Your Next Property Move