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Bridge Loans in Manhattan Beach
Manhattan Beach properties move fast and command premium prices. Bridge loans let you act immediately on a new purchase without waiting for your current sale to close.
In this market, waiting 45-60 days for a traditional sale often means losing the property you want. A bridge loan gives you buying power now, not later.
Most bridge lenders require 20-30% equity in your current property. Your credit matters less than your exit strategy—how you'll pay the loan back.
You need a clear timeline: active listing, accepted offer, or realistic market value. Lenders won't bridge to a property that won't sell.
Bridge loans come from private lenders and specialty finance companies, not traditional banks. Rates run 7-12%, and you'll pay points upfront.
Most Manhattan Beach deals involve $2-5M+ properties. Not every bridge lender handles that size, which is why broker access to multiple sources matters.
Bridge loans work for three situations: upgrading while your current home sells, buying before listing to avoid showings, or timing a relocation. They don't work for speculative purchases.
The real cost isn't just the rate—it's carrying two mortgages if your sale drags. I only recommend bridges when clients have realistic pricing and strong buyer demand for their current property.
Hard money loans fund faster but cost more—useful for foreclosure purchases, not standard moves. HELOC seems cheaper but takes weeks to set up and caps at 80-90% combined LTV.
A bridge loan sits between those options. Faster than a HELOC, more structured than hard money, designed specifically for the buy-before-sell scenario.
Manhattan Beach's tight inventory means good properties get multiple offers within days. A bridge loan removes your sale contingency, making your offer cleaner.
Coastal property values stay relatively stable here, which lenders like. Your current home in Manhattan Beach is strong collateral compared to fluctuating inland markets.
Most bridge lenders close in 30-45 days with clean title and appraisal. Some private lenders go faster at higher cost.
You'll need to extend the bridge loan at additional cost or find alternative financing. This is why realistic pricing matters upfront.
Yes, but lenders want to see an exit plan—BPO valuation and timeline to list. Rates may be higher without an active listing.
Not always. Many bridge lenders focus on equity and exit strategy over W-2s, making them viable for self-employed borrowers.
Bridge loans run 7-12% versus 6-8% conventional. You're paying for speed and flexibility, not long-term affordability.
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.