Escrow Out Loud: San Francisco Real Estate

In today’s episode of Escrow Out Loud, our San Francisco Real Estate podcast, we are talking about bridge loans with our special guest from Opes Advisers, sales manager and senior loan advisor Tracy Andreini.[00:40] A lot of people think about selling their property at this time of year. The nice thing about bridge loans is that they make it possible for people to buy their next home allowing them to move out and stage their house for sale.[01:04] We have been working with Opes for over a decade now. Tracy tells us a little bit about Opes Advisers and her background. She also explains what a bridge loan is and what are some of its major benefits.[06:24] One feature of bridge loans is that they are short term loans, typically having a term of only six months.[07:21] Another feature is that with a bridge loan there are no monthly payments. The only out of pocket costs are the 3% initial deposit and closing costs. Tracy explains how this works.[09:12] The interest rates on a bridge loan are time plus 2.5. Curren