Loading
Bridge Loans in Auburn
Auburn's foothill market moves fast when homes hit the sweet spot between Roseville sprawl and Tahoe distance. Bridge loans let you write non-contingent offers that actually compete.
Most Auburn sellers want clean deals without sale contingencies. A bridge loan turns you into a cash-equivalent buyer while your current property sits on market.
Foothills buyers typically bridge 3-6 months between purchase and sale. Your existing equity funds the down payment while carrying both mortgages temporarily.
You need 20-30% equity in your current home and solid exit strategy for selling it. Lenders want to see your existing property already listed or ready to list.
Most bridge lenders require 680+ credit and proof you can carry both payments for 6 months. They underwrite based on equity, not just income.
The property you're buying must appraise and you need reserves. Bridge lenders scrutinize whether your current home will sell at your target price.
Bridge loans live in the non-QM space with private lenders and specialty finance companies. Each lender has different equity requirements and rate structures.
Some charge interest on both loans, others only on the bridge portion. Origination fees run 1-2% and rates typically hit 8-12% depending on your equity position.
Approval takes 10-15 days with the right lender. You're paying premium pricing for speed and flexibility that traditional financing can't offer.
Auburn bridge deals work best when you're upgrading within Placer County and your exit timing is tight. I've seen too many borrowers underestimate carrying costs on two properties.
Your current home needs realistic pricing from day one. Bridge lenders get nervous when properties sit 60+ days with no offers or price cuts.
Smart play: Get pre-approved for the end loan before bridging. You want to know exactly what permanent financing looks like once your current home sells.
Watch for lenders offering 'no-payment' bridge options where interest accrues. Sounds good until you see the backend cost when you close out.
Hard money loans fund faster but cost more and ignore your ability to sell. Bridge loans actually underwrite your exit strategy.
Home equity lines take 30-45 days and require debt-to-income qualification. Bridge lenders focus on equity and property value instead.
Contingent offers cost nothing but lose in Auburn's market. You're trading 2-3 points in fees for deal certainty.
Auburn's Old Town properties and acreage parcels create unique bridge scenarios. Lenders get cautious on land-heavy properties that take longer to sell.
Summer months move faster than winter in the foothills. Your bridge timeline should account for seasonal selling patterns in Placer County.
Distance from Sacramento matters for appraisals and comps. Properties closer to I-80 corridor typically appraise cleaner than remote parcels.
Most bridge lenders fund in 10-15 days once appraisal completes. You need clean title and your current home must show clear marketability.
Most bridge loans include 6-month extensions at higher rates. Lenders require aggressive price reductions before approving extensions.
Some lenders allow it but charge higher rates. You'll need broker price opinion showing realistic sale price and timeline.
Yes, but lenders underwrite rental income and market rent potential. Investment bridge deals typically require 30% equity minimum.
Figure 2% origination plus 9-11% annualized interest for 90 days. Total cost runs 4-5% of loan amount for typical bridge period.
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.