Loading
Bridge Loans in San Marino
San Marino buyers rarely need bridge loans for budget reasons. They use them to avoid selling first in a market where quality inventory moves fast.
When a $4 million property hits the market here, you have days to decide. Bridge financing lets you close without a sale contingency.
Most San Marino bridge deals involve relocations or estate transitions. Sellers want clean offers, and bridge loans make yours competitive.
Lenders approve based on your total equity position across both properties. Most require 25-30% combined equity minimum.
Credit matters less than assets. A 680 score works if you have $2 million in real estate equity.
You'll carry two mortgages temporarily. Lenders verify you can handle both payments for 6-12 months if your sale delays.
No income documentation for most bridge loans. Your property values and exit strategy determine approval.
Most bridge lenders here specialize in California luxury markets. They understand San Marino property values and sellability.
Expect rates 2-4% above conventional mortgages. You're paying for speed and flexibility, not long-term affordability.
Origination fees run 1-2% typically. Some lenders charge lower rates but extend the payoff timeline.
Private lenders move faster than banks. We see 10-day closings regularly with the right documentation ready.
San Marino bridge deals fail when sellers overprice their existing home. Your lender will haircut that value by 10-15% minimum.
Have your current property listed before applying. Lenders want proof it's priced to sell, not aspirational.
Best candidates have properties under $3 million they're selling and buying up. The equity math works cleanly.
Avoid bridge loans if your sale timeline exceeds 12 months. The cost compounds fast, and alternatives exist.
Hard money loans fund faster but cost more. Bridge loans assume you're selling soon; hard money doesn't care about your exit.
Home equity lines seem cheaper until you factor in qualification. Bridge lenders skip income verification if equity is strong.
Interest-only loans work for investors. Bridge loans work for homeowners in transition between primary residences.
Construction loans extend 12-18 months. Bridge loans expect payoff in 6-12 months as your property sells.
San Marino's limited inventory helps bridge borrowers. Properties here sell reliably when priced correctly.
School timing drives many deals. Families want to close before August and need bridge financing to secure homes in spring.
Estate situations are common. Adult children selling inherited properties while buying elsewhere use bridge loans frequently.
Lenders view San Marino properties as low-risk collateral. That translates to better terms than comparable loans in nearby cities.
Most lenders approve in 3-5 days with complete documentation. Closing happens 7-14 days after approval if title is clear.
Most bridge loans allow 6-12 month extensions at higher rates. Some lenders convert to interest-only loans instead.
Few lenders approve without an active listing and pricing evidence. They need proof your exit strategy is realistic.
Yes, but lenders still want an exit plan. Selling or refinancing into permanent financing within 12 months is standard.
Most lenders require 25-30% equity across both properties combined. Higher equity unlocks better rates and 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.