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Monterey's coastal real estate moves on its own timeline. Good properties go fast, and sellers rarely wait.
A bridge loan lets you buy the next property before your current one closes. That speed matters here.
6–12 Months
Typical Loan Term
20%+ Typical
Equity Requirement
Non-QM
Loan Type
Varies by Profile
Rate Type
Equity-Focused
Credit Flexibility
Bridge loans are non-QM products. Lenders focus on your equity and exit strategy, not just your debt-to-income ratio.
You typically need strong equity in your current home — often 20% or more. Your credit profile still matters, but it's not the only factor.
Most retail banks don't offer bridge loans. You won't find this at your local branch.
SRK CAPITAL works with 200+ wholesale lenders. Several specialize in short-term bridge products for California borrowers.
The biggest mistake I see: buyers wait too long to explore bridge financing. By the time they ask, the property is gone.
Have your equity position and exit plan ready before you make an offer. Lenders move faster when the file is clean.
Hard money loans are similar but often carry higher rates and shorter terms. Bridge loans from institutional lenders can be more structured.
Interest-only loans are long-term products. Bridge loans are purpose-built for transitions — they're not meant to be held.
Monterey properties — especially near the water — attract competitive offers. Contingencies can cost you the deal.
A bridge loan removes the sale contingency from your offer. That one change can make your bid significantly stronger here.
Most bridge loans run 6 to 12 months. Some lenders extend to 24 months depending on the exit strategy.
No. That's the point. You close on the new property first, then sell your current home during the bridge term.
Your lender will want a clear exit — either sale or refinance. Some lenders offer extensions, but plan for the original term.
Yes. These are short-term, non-QM products. Rates are higher, but so is the flexibility. Rates vary by borrower profile and market conditions.
Yes. Bridge loans work for primary residences and investment properties. Investor deals may have different equity and term requirements.
Most lenders want at least 20% equity in your departing property. Some require more depending on the loan size.
Bridge Loans in Monterey