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Bridge Loans in El Segundo
El Segundo's aerospace and tech-driven economy creates frequent relocations. Executives moving between companies need bridge loans to close on new properties before selling current homes.
Corporate transfers here often move faster than traditional sale timelines. Bridge financing gives buyers competitive advantage in a market where inventory stays tight near LAX and Silicon Beach.
You need equity in your current property—typically 25% minimum. Lenders underwrite based on combined property values, not just income.
Most bridge lenders approve deals in 5-10 days. Credit scores above 640 work, though 680+ gets better rates. Your existing home must be listed or have a purchase offer.
Bridge lenders fall into two camps: portfolio lenders offering 6-12 month terms, and hard money shops doing 3-6 months. Portfolio lenders charge 7-10%, hard money runs 9-14%.
We work with 15+ bridge lenders who close Los Angeles County deals regularly. Each has different appetites for property type, loan size, and exit strategy timing.
El Segundo borrowers often underestimate carrying costs. You're paying for two properties—original mortgage plus bridge interest plus new property taxes.
I push clients to have their current home listed before we submit the bridge loan. Lenders want proof of exit strategy. No listing means harder approval or worse terms.
Hard money loans work for properties needing renovation before sale. Bridge loans work when your current home is sale-ready but timing doesn't align with your purchase.
HELOC could work if you have time to wait 30-45 days for approval. Bridge loans close in a week. That speed costs 3-5% more in interest annually.
El Segundo properties near Aerospace Drive or the Raytheon campus move fast when priced right. Bridge lenders feel comfortable with 60-90 day sale assumptions in those pockets.
Condos in downtown El Segundo sit longer—sometimes 90-120 days. That extended timeline makes bridge loans riskier. Expect higher rates or shorter terms on condo deals.
Most lenders go up to 80% of combined property value minus existing mortgage. On a $1.2M current home with $400K owed, expect around $560K available.
You can extend for 3-6 months with a fee, usually 1-2% of loan amount. Some lenders require rate adjustments on extensions.
Most want it listed or under contract before funding. A few portfolio lenders will close without listing if equity exceeds 40%.
Yes, but rates run 1-3% higher than owner-occupied. Lenders view rental property sales as less predictable than primary residence sales.
We close deals in 7-10 days regularly. Fastest I've done was 5 days with clean title and strong equity position.
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.