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Salinas moves fast enough that waiting to sell first can cost you a deal. Bridge loans let you act on a purchase now.
This is short-term financing — typically 6 to 12 months. You use your current home's equity to fund the next one.
6–12 months
Typical Loan Term
650+
Min Credit Score
20–25% in current home
Equity Required
Higher than conventional
Rate Type
Non-QM
Loan Category
Bridge Loans in Salinas
Bridge loans are non-QM products. Lenders care more about your equity and exit strategy than your debt-to-income ratio.
Most lenders want at least 20–25% equity in your departing property. Strong credit helps, but it's not the only factor.
Local decision guide
Use this guide to connect bridge loans eligibility, lender expectations, and local market factors before comparing payment options in Salinas.
Salinas moves fast enough that waiting to sell first can cost you a deal. Bridge loans let you act on a purchase now.
This is short-term financing — typically 6 to 12 months. You use your current home's equity to fund the next one.
Bridge loans are non-QM products. Lenders care more about your equity and exit strategy than your debt-to-income ratio.
Big retail banks rarely do bridge loans well. Their underwriting is too rigid for short-term, equity-based deals.
Wholesale lenders and private money sources are where these loans actually get done. That's where SRK CAPITAL shops.
The deals that fall apart on bridge loans usually have one problem: no defined exit. Know your sale timeline before you apply.
Interest rates on bridge loans run higher than conventional. Budget for that. The tradeoff is speed and flexibility.
Hard money loans are the closest alternative. They're also short-term and equity-based, but often carry higher fees.
Interest-only loans can reduce monthly carrying costs during the bridge period. Some lenders combine both structures.
Salinas sits in Monterey County, where property values vary sharply by neighborhood. Your equity position depends on an accurate local appraisal.
Agricultural economy cycles in the Salinas Valley can affect how quickly your departing property sells. Build that into your timeline.
Most run 6 to 12 months. Some lenders offer up to 24 months with stronger equity.
No — that's the point. You buy first, then sell your current home during the bridge period.
You'll need to refinance or extend the bridge loan. Lenders charge fees for extensions, so plan your timeline conservatively.
The criteria are different, not necessarily harder. Equity and exit strategy carry more weight than income documentation.
Yes. Bridge loans work for both primary residences and investment properties. Investor bridge deals are common.
Many bridge loans close in 10 to 15 business days. That speed is one reason buyers use them in competitive situations.