Can an estate get a loan on a property that is still in probate?

Yes. MyBridge Loans lends to estates and heirs secured by the inherited property, up to 65% loan-to-value. The court must approve the loan. Irrevocable trusts are usually fine as well.

What can a probate loan pay for?

Estate taxes, buying out other heirs, paying off a reverse mortgage or a defaulted loan, repairs before sale, attorney fees, and carrying costs until the property is sold or distributed.

Do the heirs need good credit or income?

No. The loan is underwritten on the property and the exit, usually the sale or distribution of the estate. No minimum FICO and no income documentation.

Probate and inherited property loans

MyBridge Loans funds private money loans to estates, heirs, and trusts, secured by the inherited property, up to 65% loan-to-value. Court approval is required on probate loans. Irrevocable trusts are usually fine. No minimum FICO, no income documentation. Same-day answer on any scenario. Typical funding in two weeks.

When an estate needs a loan

A property is inherited, but the cash to deal with it is not. The estate owes taxes, one heir wants to keep the house and the others want to be bought out, a reverse mortgage or a loan in default has to be paid, or the house needs work before it can sell. Banks will not lend to an estate. We will, secured by the property, with the sale or distribution as the exit.

How it works

The executor, administrator, or trustee sends the address, value, anything owed, the loan amount, and the use of funds.
We issue terms the same day.
For probate, the estate's attorney obtains court approval of the loan. We fund after approval.
For an irrevocable trust, the trustee signs with trust authority. No court involvement in most cases.
The loan is paid off when the property sells or is refinanced after distribution.

Terms

1st trust deeds 9.5% to 10.99% and up, interest-only. Usually 1.5 to 2 lender points plus broker, 3-year note, 3 to 6 month prepayment penalty. Loans from $100,000 to $4,000,000 and up. Underwriting $1,995, no processing fee, third-party appraisal, title, escrow and credit at cost. Exceptions available.

Funded examples

City and state only, no borrower or estate information.

Hemet, CA. $294,000 probate loan on a single-family residence.
Hemet, CA. $276,000 probate loan on a single-family residence.
Fontana, CA. $275,000 probate loan.
Fontana, CA. $175,000 probate loan.
Vista, CA. $181,000 probate bridge loan on a single-family residence.

For attorneys and fiduciaries

Send the scenario directly. We will provide the term sheet in a form suitable for the petition. Court approval is required before we fund, and we work with the estate's counsel on that timeline.

How to get a quote

Send the address, value, amount owed, loan amount, use of funds, and whether the property is in probate or a trust to the scenario form, or call 949-463-9898. You get a yes, no, or what's missing the same day.