E Sycamore Ave, El Segundo, CA 90245, 6,401 5 beds, 4 baths
2502 sqft, 5 beds, 4 baths, property in El Segundo, CA - 90245


Be Prepared
Be prepared to pay more on bridging loans. A bridging loan poses a sizeable risk to the loan lender because the old home may not sell for some time. The interest rate on bridging loans is comparatively higher than conventional mortgages. The typical interest rate is one half of a percent. The interest rate is generally dependent on credit history, value of collateral placed and loan term. The borrower starts making interest payment at the end of the term, in case, the old property is not sold. After the old home is sold, the bridge loan is paid back. If the house is sold within the term limit, all the unearned interest is credited back to the borrower.