Loading
Loading
Morgan Hill's median household income of $159,674 (Santa Clara County figure) supports purchases in the $1.1M to $1.3M range, where bridge financing has become essential.
The county's tech job growth — OpenAI just leased a 450,000-square-foot Mountain View office complex — keeps demand steady in the South Bay. Bridge loans let you make an offer without contingencies, a real advantage when competing for homes in this market.
7–14 days
Typical Closing
20–30% minimum
Equity Required
680 FICO
Credit Score Floor
1–3% above primary
Rate Premium
Usually waived
Appraisal
Bridge Loans in Morgan Hill
Bridge loans require 20% to 30% equity in your current home and a credit score of 680 or higher. Lenders verify your sale contract or recent appraisal to confirm equity. Your debt-to-income ratio must stay below 50% when the bridge payment is included.
The 2026 conforming limit in Morgan Hill is $1,249,125. Most bridge lenders cap loans at 80% of your current home's value plus 80% of the new purchase price.
Local decision guide
Use this guide to connect bridge loans eligibility, lender expectations, and local market factors before comparing payment options in Morgan Hill.
Morgan Hill's median household income of $159,674 (Santa Clara County figure) supports purchases in the $1.1M to $1.3M range, where bridge financing has become essential.
The county's tech job growth — OpenAI just leased a 450,000-square-foot Mountain View office complex — keeps demand steady in the South Bay. Bridge loans let you make an offer without contingencies, a real advantage when competing for homes in this market.
Bridge loans require 20% to 30% equity in your current home and a credit score of 680 or higher. Lenders verify your sale contract or recent appraisal to confirm equity. Your debt-to-income ratio must stay below 50% when the bridge payment is included.
Bridge lending in California is dominated by private lenders and specialty finance companies, not traditional banks. These lenders move fast because they're not bound by the same underwriting timelines as Fannie Mae or Freddie Mac.
Interest rates on bridge loans run 1% to 3% above your primary mortgage rate, depending on equity position and loan size. The loan is short-term — typically 6 to 12 months — so the higher rate is temporary.
Bridge loans make sense in Morgan Hill when you have solid equity in your current home and a real sale contract on the new property.
The math works when the bridge rate plus interest costs less than the cost of a contingent offer or a price reduction to close faster.
A conventional contingent offer lets you skip the bridge rate premium but weakens your negotiating position. The seller can shop your offer to other all-cash or bridge-backed buyers.
A bridge loan removes the contingency and lets you bid like a cash buyer. You pay a higher rate for 6 to 12 months, but you close faster and win the deal.
The Silicon Valley Lunar New Year celebration in Santa Clara (Jan 31–Feb 1, 2026) drew over 200 food and cultural vendors. That kind of community activity matters to families buying in Morgan Hill — it signals a neighborhood with real social infrastructure,...
Asia Live Food Emporium just opened at Westfield Valley Fair in Santa Clara with a 13,000-square-foot space. Buyers relocating to Morgan Hill for tech jobs appreciate proximity to dining and retail that reflects the region's diversity.
Most bridge lenders close in 7 to 14 days. Some specialize in 5-day closings if your equity and sale contract are clean. Speed is the whole point — you skip the appraisal and lengthy underwriting that slow down conventional loans.
Not before closing, but you must have a signed sale contract on your current home or very strong equity. Lenders want proof your sale will close and repay the bridge. Without a contract, most lenders decline.
You refinance the bridge into a longer-term loan or extend the bridge term. Most bridge agreements allow a 30 to 60-day extension. If your sale is genuinely delayed beyond that, you'll need to discuss options with your lender.
Bridge rates run 1% to 3% higher than your primary mortgage rate. On a $500,000 bridge loan for 6 months, that's roughly $2,500 to $7,500 in extra interest. Compare that to the cost of a contingent offer or a price reduction to close faster.
Yes, if you have an equity line of credit or a home equity loan on another property. Some lenders also accept a construction loan as collateral. The key is demonstrating liquid equity, not necessarily a completed sale.