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Bridge Loans in Lemoore
Lemoore's tight inventory creates timing crunches for buyers upgrading homes. Bridge loans solve the classic problem: you found your next house but haven't closed on selling your current one.
In Kings County's smaller market, properties move slower than coastal metros. That creates both opportunity and risk when coordinating two transactions simultaneously.
Most Lemoore sellers face 30-90 day close timelines. Bridge financing gives you cash to act fast on new purchases without waiting for your sale to fund.
You need provable equity in your current property. Most lenders require 20-30% equity minimum, verified by recent appraisal or automated valuation.
Credit matters less than equity and exit strategy. Scores above 620 work, but lenders focus on your ability to sell the existing property and refinance or pay off the bridge loan.
Expect to show proof of listing or intent to sell. Lenders want evidence your current home will move, not sit vacant while carrying two mortgages.
Bridge loans come from private lenders and specialized non-QM shops, not traditional banks. This is hard money territory with fast underwriting and flexible terms.
Rates run 8-12% typically, sometimes higher. You're paying for speed and convenience, not the cheapest money available.
Loan terms span 6-12 months usually. Some lenders offer extensions if your sale takes longer than expected, but those cost extra.
Most bridge lenders cap combined loan-to-value at 70-80%. They total what you owe on both properties against their combined value.
Bridge loans work best when your current home is priced right and will sell within 90 days. If you're testing the market or overpriced, you're building a trap for yourself.
We structure these as interest-only payments during the bridge period. That keeps monthly costs manageable while carrying two properties temporarily.
The smartest clients use bridge loans to avoid contingent offers in competitive situations. In Lemoore, that can be the difference between getting your offer accepted or losing to cleaner terms.
Calculate total carrying costs before committing. Bridge interest plus your existing mortgage plus new property expenses add up fast if the sale drags.
Hard money loans fund investment purchases and rehabs. Bridge loans specifically solve the move-up buyer's timing gap between selling and buying.
Home equity lines seem cheaper but take weeks to fund and require lengthy underwriting. Bridge lenders close in days when you need to act fast.
Construction loans fund building projects. Bridge loans fund finished property purchases while waiting on your sale proceeds to arrive.
Lemoore's proximity to NAS Lemoore creates cycles of military transfers. That can mean sudden inventory spikes when units rotate, affecting your sale timeline assumptions.
Kings County appraisers are thorough but slower than urban markets. Factor extra time for valuations on both your current and new properties.
Rural property sales take longer here than in Fresno or coastal markets. Build conservative timelines into your bridge loan exit strategy.
Local real estate agents know seasonal patterns around the base and agriculture economy. Work with someone who understands when properties actually move in Lemoore.
Most lenders fund within 7-14 days after application. You need a recent appraisal on your current home and proof you're listing it or have a buyer.
Most lenders offer 3-6 month extensions at higher rates. If it still doesn't sell, you may need to refinance into permanent financing on both properties.
Yes, but lenders want evidence you'll list soon. Expect stricter equity requirements and possibly higher rates without an active listing.
Yes, lenders appraise both your current home and the new purchase. Combined values determine your maximum loan amount based on LTV limits.
Consult your tax advisor, but interest on acquisition debt typically qualifies. Rules differ based on property use and loan structure.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.