Photo: Milana Real Estate Group
Five steps, and you know where you stand after the first one.
From the first call to the keys. What happens at each stage, who does what, and how long it takes.
Photo: Milana Real Estate Group
From the first call to the keys. What happens at each stage, who does what, and how long it takes.
The short version
A Golden Gate bridge loan runs in five steps: a 30 minute consultation, an application and approval, a cash-like approval letter for your offer, closing in about 14 days, then funding. The loan is repaid when your current home sells.
Every successful home transition starts with the right conversation. Reach out by call, text or email and we will arrange a 30 minute bridge loan consultation. On that call we get to know your goals, understand the details of your transaction and answer your questions. From there the team designs a bridge loan strategy that fits what you are actually trying to do.
The application runs through our secure portal. To move quickly we need the address, what you are buying it for, what you still owe on anything you already own, and the date you are contracted to close.
When you are ready to submit, we give you and your agent a personalised approval letter that acts as a cash-like offer. That is what gives you the edge in a competitive situation and the confidence to go after the house you want.
Once your offer is accepted we move. Our closing team works with your agent and every other party to close the bridge loan in about 14 days, or on whatever timeline your contract sets. With everything aligned the transition is fast and you keep your attention on the move.
With the bridge loan funded you move into the new home while your agent lists the one you own. When it sells, the proceeds repay the bridge loan. If it makes sense we will walk you through refinancing so the long-term financing matches your plans.
The team works to close in about 14 days, and often faster, but the honest answer is that it depends on the property and how quickly the paperwork lands. Your contract date is what we build the schedule around, so tell us that on the first call.
Thirty minutes. That is enough to understand the transaction, give you a real number and tell you what we would need next.
The address, what you are buying it for, what you still owe on anything you already own, and the date you are contracted to close. Everything else we can work out together.
When your current home sells. The sale proceeds repay the bridge loan, and there is no prepayment penalty, so if it sells in three weeks you are not paying for six months.
Tell us early and we will look at the options with you, including refinancing into longer-term financing. This is a common situation and there is a route through it.
Four simple questions and one straight answer.
Golden Gate Lending Group Inc. · California DRE #01405277 · NMLS #241012 · Equal Housing Opportunity. Loans are made or arranged pursuant to a California Department of Real Estate license. This site is not a commitment to lend, and all loans are subject to underwriting and property approval.
