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Bridge Loans in Beverly Hills
Beverly Hills moves fast. When you spot the right property, waiting 60 days for a traditional sale contingency kills the deal.
Bridge loans give you immediate liquidity using your current equity. Most closings happen in 7-14 days, which matters in a market where cash offers dominate.
Lenders approve based on combined equity—your current home plus the new purchase. Most require 30-35% total equity across both properties.
Credit standards are looser than traditional loans. If you have substantial real estate equity and can prove ability to carry both payments temporarily, you qualify.
Most bridge lenders cap at $3-5 million, which doesn't work in Beverly Hills. You need specialty lenders comfortable with $5-20 million positions.
Expect 8-12% rates with 1-2 points in fees. Term is typically 6-12 months with extension options if your property takes longer to sell.
I see two Beverly Hills scenarios repeatedly. First: clients upgrading from $3M to $6M properties who don't want to rent between homes. Second: divorce situations requiring immediate buyouts.
The mistake is waiting too long to explore bridge options. Line this up before you find the new property, not after you're in escrow scrambling.
Hard money works if you can't qualify for bridge financing or need even faster closing. Rates jump to 10-14% but approval is simpler.
HELOC is cheaper at 8-9% but takes 30-45 days and requires strong credit. Bridge loans split the difference—faster than HELOC, cheaper than hard money.
Beverly Hills properties don't sell overnight like buyers assume. Even well-priced homes can take 90-120 days, which puts pressure on bridge loan timelines.
Lenders account for this. They'll want your existing property priced at or below recent comps before approving the bridge. No fantasyland valuations.
Yes, most lenders don't require an active listing. They do require realistic pricing expectations and may mandate listing within 30 days of funding.
Most bridge lenders offer 6-month extensions at a fee. Plan for this possibility upfront and confirm extension terms before closing.
Absolutely. Many investors use bridge loans to secure new acquisitions before selling existing rentals. Expect slightly higher rates on non-owner occupied deals.
Specialty lenders go to $20 million. Combined loan-to-value across both properties typically caps at 65-70% to protect against market drops.
You can cancel before funding with minimal penalty. After funding, prepayment penalties vary by lender but are often waived after 90 days.
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.