Question 1

How long does a bridge loan last in California?

Accepted Answer

Most bridge loans run 6 to 12 months. Some lenders extend to 24 months with strong equity and a solid exit plan.

Question 2

Can I get a bridge loan if my Gilroy home isn't listed yet?

Accepted Answer

Yes. Lenders focus on your equity position, not whether the home is actively listed. Your exit plan just needs to be credible.

Question 3

Will I carry two mortgage payments at once?

Accepted Answer

Potentially, yes. Budget for overlap. Some bridge structures defer payments until the existing property sells.

Question 4

What credit score do I need for a bridge loan?

Accepted Answer

Requirements vary, but bridge lenders prioritize equity over credit. A 620+ score helps, but it's not the deciding factor.

Question 5

Are bridge loan rates higher than conventional rates?

Accepted Answer

Yes. Bridge loans are short-term, non-QM products. Rates are higher — rates vary by borrower profile and market conditions.

Question 6

How fast can a bridge loan close in Gilroy?

Accepted Answer

Experienced wholesale lenders can close in 10–15 business days. Speed depends on title, appraisal, and lender turnaround.

Bridge Loans in Gilroy, CA — Buy Before You Sell