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Bridge Loans in Carson
Carson sellers face a timing problem. Your current home needs to close before you can buy the next one, but inventory moves fast in Los Angeles County.
Bridge loans give you 6-12 months to buy first and sell later. Most borrowers close in 10-14 days with minimal documentation.
This works when you've found the right property but haven't sold yet. Without it, you're writing contingent offers that lose to all-cash buyers.
You need substantial equity in your current property. Most lenders want to see at least 30% equity, often more in Los Angeles County.
Credit matters less than equity position. Lenders focus on your combined loan-to-value across both properties, typically capping at 75-80%.
You'll need proof your current home will sell. A listing agreement or recent appraisal helps, but the property has to support the numbers.
Bridge loans come from private lenders and specialized funds, not traditional banks. Rates run 8-12% with origination fees of 2-4 points.
Every lender structures differently. Some calculate interest on both properties, others only on the bridge portion.
The cheapest rate isn't always best. Fast approval and reliable closing matter more when you're under contract on a purchase.
Most Carson borrowers underestimate the true cost. You're paying interest on two properties while carrying both mortgages and property taxes.
Have a realistic timeline for selling. If your current home sits for six months, you'll burn through equity fast at these rates.
We structure most deals with interest reserves built into the loan. That means you're not writing checks monthly while juggling two properties.
This isn't for everyone. If you can make a sale contingency work or wait three months, you'll save $15,000-$30,000 in financing costs.
Hard money loans fund even faster but cost more. Bridge loans work for owner-occupied transitions, hard money for investment properties.
Home equity lines seem cheaper upfront but most banks freeze HELOCs when you list your property. Bridge lenders expect you to sell.
Construction loans give you longer terms but require detailed plans and draws. Bridge loans fund in one lump sum with minimal oversight.
Carson properties near the StubHub Center or newer developments south of the 405 typically appraise well for bridge financing.
Lenders look at days-on-market trends across Los Angeles County. Properties that typically sell in 30-45 days support higher LTVs.
Your current property needs to be desirable enough to sell quickly. Lenders won't bridge you into a purchase if your existing home faces major selling challenges.
Los Angeles County loan amounts exceed most lender comfort zones. Expect more documentation and lower LTVs on loans above $1.5 million.
Most bridge loans allow 6-12 month extensions for a fee. Some lenders require you to refinance into a longer-term loan or reduce the price.
Yes, but the combined debt across both properties typically can't exceed 75-80% of their total value. Equity in your current home matters most.
Expect 8-12% interest plus 2-4 points in fees. On a $500,000 bridge loan for six months, total cost runs $30,000-$45,000.
Yes, lenders appraise the property you're buying and the one you're selling. Both values determine your combined loan-to-value ratio.
Bridge loans work for owner-occupied transitions. For investment properties, hard money loans or investor cash-out programs typically make more sense.
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.