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Bridge Loans in Culver City
Culver City buyers face a timing problem. You find the right property, but your current home hasn't sold yet.
Bridge loans solve this by funding your purchase before your sale closes. Most deals close in 14-30 days, faster than any conventional loan.
The typical scenario: You're moving from a condo in Mar Vista to a single-family in Culver City. Bridge financing lets you compete with cash buyers while you list your old place.
You need significant equity in your current property. Most lenders require at least 20-25% equity to secure the bridge.
Your combined loan-to-value across both properties typically can't exceed 80%. Strong credit helps but isn't the main driver—equity is.
Income verification is lighter than conventional loans. Lenders focus on your exit strategy: how quickly can you sell or refinance out of the bridge.
Not all bridge lenders operate in Los Angeles County. The ones that do charge 7-12% interest with 1-2 points upfront.
Term length runs 6-12 months. You'll pay interest-only monthly payments until you sell your existing property or refinance.
Some lenders offer delayed second payment structures. You make payments on the bridge but defer the underlying mortgage until your old home sells.
Expect higher costs than traditional financing. You're paying for speed and flexibility, not the lowest rate.
Bridge loans work best when you have a firm listing strategy. Don't secure bridge financing if your current home isn't ready to list within 30 days.
I've seen borrowers use these to buy properties near Sony Pictures or Apple's campus, where inventory moves fast. Without bridge financing, they lose deals to cash buyers.
The math needs to work. Calculate your monthly cost carrying both properties, then add bridge payments. If that number gives you anxiety, reconsider.
Exit timing is everything. Price your existing home aggressively. A bridge loan that extends past 6 months gets expensive fast.
Hard money loans and bridge loans overlap but serve different buyers. Hard money focuses on investment properties and relies on asset value over borrower profile.
Bridge loans typically offer better rates than hard money because you're owner-occupied and have a clear exit. Hard money runs 10-15%, bridge stays around 7-12%.
A construction loan won't help if you need to buy now. Bridge financing gets you into the property while you sort out your existing home.
Interest-only loans might work if you can qualify conventionally and don't mind the wait. Bridge loans eliminate the timing gap entirely.
Culver City properties near the Expo Line or studio lots attract multiple offers. Bridge financing helps you write non-contingent offers that sellers prefer.
The city's tight inventory means waiting for your sale could cost you the property. Bridge loans remove that hesitation.
Downtown Culver City condos and homes west of Overland typically sell within 30-60 days if priced right. That timeline fits bridge loan terms well.
Work with an agent who understands your bridge financing timeline. They need to list your existing property aggressively while you're in escrow on the new one.
Most lenders offer extensions for 3-6 months at higher rates. You can also refinance the new property into conventional financing and pay off the bridge.
Yes, if your combined debt across both properties stays under 80% LTV. The existing mortgage doesn't disqualify you—equity does.
Expect 1-2% in points plus 7-12% annual interest. A $500K bridge for 6 months costs roughly $25K-$35K total.
Yes, plus bridge loan interest. Some lenders offer deferred payment structures, but you'll carry three payments until your existing home sells.
Most bridge lenders focus on owner-occupied transactions. For investment properties, hard money loans typically work better and have more flexible terms.
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.