Question 1

How long does a bridge loan last in Simi Valley?

Accepted Answer

Most bridge loans run 6 to 12 months. Some lenders extend to 24 months depending on the deal.

Question 2

Do I need to sell my home first to qualify?

Accepted Answer

No — that's the point. You qualify based on equity in your current home. You sell after you've closed on the new one.

Question 3

What credit score do bridge lenders require?

Accepted Answer

Most wholesale bridge lenders want 650 or higher. Equity and exit strategy carry more weight than credit alone.

Question 4

Are bridge loans interest-only?

Accepted Answer

Usually yes. Most bridge loans are structured as interest-only to keep monthly payments manageable during the transition.

Question 5

Can I use a bridge loan for investment property in Simi Valley?

Accepted Answer

Yes. Bridge loans work for both primary residences and investment properties. Lender terms may differ between the two.

Question 6

How fast can a bridge loan close?

Accepted Answer

Faster than a conventional loan — but don't count on less than two weeks. Budget 2–3 weeks to be safe.

Bridge Loans in Simi Valley — Buy Before You Sell