Question 1

What happens if my Milpitas home doesn't sell in time?

Accepted Answer

Most bridge loans include extension options at added cost, typically 1% of the balance. You can also refinance into a longer-term loan if needed.

Question 2

Can I use a bridge loan for an investment property purchase?

Accepted Answer

Yes, but rates run higher than owner-occupied deals. Lenders want to see strong rental comps if the new property won't be your primary residence.

Question 3

How much equity do I need in my current Milpitas property?

Accepted Answer

Most lenders require 30% to 40% equity after the bridge loan funds. Higher equity gets better rates and faster approval.

Question 4

Do bridge loans require monthly payments?

Accepted Answer

Most are interest-only during the term. Some lenders offer deferred payment options where interest accrues until you sell.

Question 5

How fast can I close a bridge loan in Milpitas?

Accepted Answer

Expect 10 to 21 days from application to funding. We've closed deals in seven days when borrowers had all documentation ready upfront.

Bridge Loans in Milpitas: Buy Before You Sell