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Bridge Loans in Lincoln
Lincoln's housing market moves fast. When you find the right property, you can't always wait 60 days to sell your current home.
Bridge loans let you buy now and sell later. Most Lincoln buyers use them when they need to close quickly or compete with all-cash offers.
This isn't permanent financing. You're looking at 6-12 month terms with interest rates 2-4 points above conventional mortgages.
Lincoln sellers expect competitive offers. A bridge loan puts you in position to write offers without sale contingencies.
You need equity in your current home. Most lenders want to see 20-30% equity minimum after the bridge loan funds.
Credit matters less than equity position. We've closed bridge loans with scores as low as 620 when the numbers work.
Your debt-to-income ratio includes both mortgages. Lenders calculate payments on the bridge loan and your new purchase together.
Expect to show reserves. Six months of combined mortgage payments in the bank is standard for bridge loan approval.
Bridge loans aren't offered by most retail banks. We work with specialized lenders across our network who fund these deals regularly.
Portfolio lenders move fastest. They underwrite to their own guidelines and can close in 7-10 days when documentation is clean.
Rate shopping here costs time you don't have. The difference between lenders is usually 0.25-0.5%, but closing speed varies by weeks.
Some lenders cap combined loan-to-value at 75%. Others go to 80% if your credit and reserves are strong.
Most Lincoln buyers use bridge loans wrong. They treat them like extended financing instead of true short-term solutions.
List your current home before you close the bridge loan. The clock starts ticking immediately and refinancing costs add up fast.
Interest-only payments keep your monthly cost manageable. Full principal and interest payments on two properties sink budgets quickly.
Have an exit strategy before you sign. Know exactly when your home hits the market and what happens if it doesn't sell in 90 days.
Hard money loans cost more but offer more flexibility. If your bridge scenario looks risky, hard money might be the safer play.
Home equity lines of credit work if you have time. A HELOC takes 30-45 days to fund but costs 3-4% less annually.
Some buyers use construction-to-perm loans instead. If you're building new, those programs eliminate the bridge loan entirely.
Investor loans make sense if you're keeping the Lincoln property as a rental. Different underwriting, lower rates, longer terms.
Placer County properties appraise conservatively. Don't assume your home's value matches Zillow estimates when calculating equity.
Lincoln has multiple buyer profiles competing. Bridge loans help you compete with Sacramento relocations bringing all-cash offers.
Title companies in Placer County can turn around bridge loan closings in 5-7 days. That speed advantage matters in competitive situations.
Property types affect approval. Single-family homes in Lincoln's newer developments approve faster than rural Placer County acreage.
7-10 days with clean documentation. Some portfolio lenders close in five days if appraisal and title work comes back fast.
Most lenders offer 6-12 month extensions at higher rates. You can also refinance into a conventional loan on the new property if values support it.
Depends on acreage and property type. Under 10 acres with utilities usually works. Larger parcels need specialized rural lenders.
Yes, lenders count both payments in qualification. Interest-only options reduce the bridge loan payment significantly.
20% after the bridge loan funds. Some aggressive lenders go to 15% with strong credit and reserves.
Slightly, but lenders price based on speed and risk. Your equity position matters more than negotiation for rate reduction.
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.