The minimum credit score required for a bridge loan can vary depending on the lender and the specific loan program. However, in general, bridge loans are often considered to be higher-risk loans, and lenders may require a higher credit score than they would for a traditional mortgage.
While some lenders may accept borrowers with lower credit scores, many lenders prefer borrowers with credit scores of at least 650 or higher. Some lenders may require even higher credit scores, such as 700 or 720, to qualify for a bridge loan.
It’s important to note that credit score is just one factor that lenders consider when evaluating a borrower’s creditworthiness. Other factors such as income, employment history, debt-to-income ratio, and the value of the collateral used to secure the loan may also be taken into account.