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Bridge Loans in Lynwood
Lynwood's competitive market moves fast. Waiting on your current home to sell means missing properties that won't last the weekend.
Bridge loans give you purchase power now. You buy first, then handle your sale on your timeline instead of losing deals to cash offers.
You need substantial equity in your current property. Most lenders want 25-30% combined equity across both homes after the bridge loan funds.
Credit matters less than equity. Scores around 620 work if your loan-to-value stays under 80% and you prove ability to carry both payments short-term.
Most banks don't touch bridge loans anymore. You're looking at private lenders and specialized non-QM shops that move quickly but charge accordingly.
Rates run 7-12% with origination fees hitting 2-3 points. The cost matters less than the speed and the deal you'd otherwise lose.
Bridge loans work when the math is clear. You need a solid sale timeline and enough equity cushion that a 10% price cut on your current home won't sink the deal.
I see these used well in Lynwood when sellers upgrade within the area. Local buyers know values and close fast. The worst scenarios involve overleveraged properties or unrealistic sale expectations.
Hard money loans cost more but work with less equity. Bridge loans assume you have substantial equity and a clear exit via your home sale.
Some borrowers use home equity lines instead. Cheaper rates but slower funding and you still need sale proceeds to pay down the HELOC eventually.
Lynwood properties typically need 30-60 days to sell when priced right. Build that timeline into your bridge loan planning plus buffer for inspection negotiations.
Los Angeles County transfer taxes and dual escrow costs add up. You're paying closing costs twice within months, which eats into equity fast if margins are thin.
Most lenders offer extensions at higher rates, or you refinance the bridge into a rental property loan. Plan your exit before you start.
Yes, but lenders treat it as business financing with different terms. Expect higher rates and shorter windows than primary residence bridges.
Private lenders fund in 10-21 days with clean title and equity verification. Cash-out scenarios or title issues add time.
Yes, lenders appraise both your current home and the purchase property. Budget 7-10 days for dual appraisal completion.
Most private lenders accept 620+ if equity is strong. Higher scores unlock better rates but equity drives approval more than credit.
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.