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Bridge Loans in San Juan Bautista
San Juan Bautista buyers face timing challenges in a small-town market where inventory moves unpredictably. Bridge loans let you close on your next property before selling your current one.
This works well in San Benito County where coordinating closings across rural properties often fails. You avoid contingent offers that sellers reject in competitive situations.
Most bridge lenders require 20-30% equity in your current property plus strong credit. You need sufficient income to carry both mortgages simultaneously during the bridge period.
Expect rates 2-4% above conventional mortgages with terms from 6-12 months. Lenders underwrite based on your exit strategy for repaying when your original property sells.
Bridge loans come from specialty lenders, not traditional banks. Most operate as portfolio lenders who keep the loan instead of selling it.
Rates vary significantly by borrower profile and market conditions. We access 30+ bridge lenders who compete on speed and terms for San Benito County deals.
San Juan Bautista deals often involve unique properties that appraise slowly. Bridge loans remove sale contingencies so you win listings before your competition.
I route most clients to 12-month terms even if they expect 90-day sales. San Benito County properties sit longer than sellers predict, and extension fees cost more than initial term padding.
Hard money loans fund faster but charge 9-12% rates. Bridge loans cost less at 6-9% when you have strong credit and equity.
Home equity lines work cheaper but take 30-45 days to fund. That timeline loses you the property in San Juan Bautista's tight market where cash offers dominate.
San Juan Bautista properties often include acreage or historic features that complicate traditional appraisals. Bridge lenders handle these situations better than conventional sources.
Buyers moving from Bay Area cities use bridge loans to secure properties before their urban homes sell. This strategy works when your exit market moves faster than San Benito County.
Most lenders offer 6-month extensions at 1-2% of the loan balance. Plan your initial term longer than your realtor's sale estimate to avoid extensions.
Yes, bridge lenders accept rural and agricultural properties that conventional lenders avoid. Expect slightly higher rates on properties over 10 acres.
Figure 6-9% interest plus 1-2% origination fees. Compare that to missing your ideal property or accepting a lowball offer to close faster.
Most bridge loans offer interest-only payments. You'll carry both mortgage payments until your original property closes, typically 3-6 months.
Yes, investors use bridge loans to acquire properties before selling others. Lenders focus on your total equity position across all properties you own.
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.