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How Long Does It Take To Get A Bridge Loan?

Tom BurchnellReviewed by

The time frame for obtaining approval and funding for a bridge loan depends primarily on the type of lender and on the property used to secure the loan. Conventional lenders such as banks and credit unions may offer bridge loans, but they prefer loans with longer terms and a longer profit horizon. Conventional lenders require multiple application forms and other documentation that extends the application approval process. For such lenders, a time frame of 30 to 45 days for approval and funding is typical. Nimble online lenders that specialize in bridge loans and other short-term loans can provide loan approval and funding more quickly.

Home purchase

Many online lenders of bridge loans offer same-day approvals for loan requests. Government funding requirements for owner-occupied bridge loans increase the minimum funding period to at least two weeks, which is usually sufficient for most homeowners. Once homeowners receive the money, they can immediately put a significant down payment on their new home or even buy it outright.

Investment property

A bridge loan that will be used to buy investment property can receive funding more quickly than an owner-occupied loan, since it’s subject to fewer federal regulations. The lender can usually approve these loans quickly, provided that the borrower’s equity in the collateral property meets the lender’s risk standards. For such bridge loans, the lender can often provide funding within three to five days of loan approval.

Tom Burchnell
Product Marketing Director

Tom Burchnell, Director of Digital Product Marketing for EasyKnock, holds an MBA & BBA in Marketing from University of Georgia and has 6 years of experience in real estate and finance. In his previous work, he spent time working with one of the largest direct lenders in the SouthEast. 

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