Question 1

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

Accepted Answer

Most lenders offer extensions for 30-90 days with an additional fee. You can also refinance the bridge into a rental loan if you convert your old home to investment property.

Question 2

Can I use a bridge loan to buy before listing my current home?

Accepted Answer

Yes, but most lenders require you list within 30 days of closing the bridge loan. They want to see an active exit strategy, not an indefinite carry.

Question 3

How much equity do I need in my Patterson home for a bridge loan?

Accepted Answer

Most lenders require 20-25% equity minimum. Combined loan-to-value across both properties usually caps at 80%, meaning you need solid equity in your current home.

Question 4

Are bridge loan rates in Patterson negotiable?

Accepted Answer

Rates vary by borrower profile and market conditions. Stronger equity and credit can reduce rates by 0.5-1%. We shop 15+ lenders to find the best terms for your situation.

Question 5

Can I avoid monthly payments on a Patterson bridge loan?

Accepted Answer

Some lenders offer deferred interest programs where payments accrue until payoff. This works if you're confident your home will sell quickly and want to preserve cash flow.

Question 6

Do bridge loans require income verification in Stanislaus County?

Accepted Answer

Many bridge lenders focus on equity and exit strategy over income. If you have 30%+ equity, some programs approve with minimal documentation regardless of employment type.

Bridge Loans in Patterson: Fast Financing Between Buying and Selling