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Bridge Loans in Walnut
Walnut's family-oriented neighborhoods create tight inventory cycles. Sellers often need to close on their next home before their current property sells.
Bridge loans let you make competitive non-contingent offers in this San Gabriel Valley market. You avoid losing your target property while waiting on your sale.
Most Walnut homeowners use these loans for 3-12 months. The goal is closing your new home first, then selling your existing property without timing pressure.
You need at least 20% equity in your current Walnut home. Lenders combine both properties when calculating loan-to-value ratios.
Most bridge lenders want 640+ credit and proof you can carry both mortgages temporarily. They assume your existing home sells within the loan term.
Documentation is lighter than traditional mortgages. Lenders focus on equity position and exit strategy over employment verification.
Bridge financing comes from specialty lenders, not your typical bank. SRK CAPITAL works with private lenders who fund these deals in 1-3 weeks.
Rates run 7-12% with origination fees of 1-3 points. That's expensive, but you're paying for speed and flexibility.
Some lenders offer interest-only payments. Others defer all payments until you sell your existing property or refinance.
Bridge loans work when your Walnut home will clearly sell within 12 months. If your property needs major repairs or sits in a slow pocket, hard money makes more sense.
I structure these deals differently for families moving up versus investors flipping. The exit timeline changes everything about which lender fits.
Calculate total carrying costs before committing. Two mortgages plus bridge loan fees add up fast if your original home sits longer than expected.
Hard money loans fund faster but cost more. Bridge loans offer slightly better rates when you have strong equity and clear exit timing.
Home equity lines work cheaper for small gaps between closings. Bridge loans handle the full purchase when you're buying before selling.
Construction loans serve different purposes entirely. Those fund builds or major renovations, not property transitions.
Walnut's strong school districts drive consistent buyer demand. That matters when your exit strategy depends on selling your existing home quickly.
Los Angeles County transfer taxes add to your total cost. Factor these into your bridge loan budget alongside origination fees and interest.
Many Walnut families upgrade within the same school boundaries. Bridge loans let you secure the new property before listing your current home to minimize kid disruption.
Most bridge lenders fund in 1-3 weeks. They focus on your equity position and property values, not lengthy employment verification like banks require.
You'll need to refinance the bridge loan or extend it at additional cost. Some lenders allow extensions, others require full payoff or property sale.
Yes, if you have sufficient equity. Lenders treat investment properties differently than primary residences when calculating qualifying ratios and rates.
Most lenders order appraisals on your existing Walnut home and the new purchase. Some use automated valuations to speed up approval timelines.
Significantly higher. Bridge loans run 7-12% versus 6-8% for conventional loans. You're paying for speed and the ability to buy before selling.
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.