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Coronado's waterfront homes and military-adjacent neighborhoods command strong prices. Bridge loans solve a real problem here: you need cash now to buy before your current home sells.
A bridge loan typically funds in 7 to 14 days. You borrow against your existing home's equity to cover the down payment and closing costs on your new Coronado purchase.
7–14 days
Typical Close Timeline
20% of current home value
Minimum Equity Required
680 FICO
Minimum Credit Score
0.5%–1.5% higher
Rate Premium vs. Fixed
$1,104,000
2026 Conforming Limit
Bridge lenders care about equity, not just credit. You'll need at least 20% equity in your current home and a credit score of 680 or higher.
Debt-to-income ratio typically caps at 50% on a bridge. Lenders verify your ability to carry both the bridge payment and your existing mortgage simultaneously.
California bridge lenders fall into two camps: portfolio lenders (banks that hold loans) and warehouse lenders (who sell to investors). Portfolio lenders move faster and accept lower credit scores.
Closing timelines vary. A portfolio lender in California typically closes a bridge in 7 to 10 days. Warehouse lenders take 10 to 14 days because of investor review.
Bridge loans make sense in Coronado when you have solid equity and a realistic timeline to sell. If your current home is listed and you have multiple offers, a bridge closes the gap in days.
The math breaks down when your current home needs repairs or sits in a slow market. A six-month bridge on a $500,000 loan at 7% costs roughly $17,500 in interest alone. Add your existing mortgage payment and you're carrying two properties.
A contingent offer on a conventional mortgage takes 30 to 45 days and requires your current home to sell. A bridge loan closes in 7 to 14 days and removes the contingency, making your offer stronger in a competitive market.
Home equity lines of credit (HELOCs) are cheaper than bridges but slower to fund. A HELOC takes 2 to 3 weeks and carries a lower rate. Bridges win on speed and certainty. If you can wait and your credit is solid, a HELOC costs less.
Coronado's real estate market moves fast. Waterfront and near-waterfront properties often sell in 30 days or less. If you're competing for a home in the $1,000,000 to $1,200,000 range, a non-contingent offer backed by a bridge loan beats a contingent bid...
The Naval Base San Diego presence keeps demand steady. Military families relocating on orders need to close quickly. Bridge loans are standard financing for that buyer profile.
7 to 14 days. Portfolio lenders close in 7 to 10 days. Warehouse lenders take 10 to 14 days. You'll need a clear title, proof of equity, and a credit score of 680 or higher. Appraisals happen in parallel, not sequentially.
You pay it off with the sale proceeds. If there's a gap between your bridge payoff date and your sale closing, the lender extends the term (typically for a monthly fee).
No. You need at least 20% equity to qualify. If your current home is worth $500,000 and you owe $450,000, you have only 10% equity — most lenders won't bridge that. You'd need to wait for the sale or use a HELOC instead.
Bridge rates run 0.5% to 1.5% above the 30-year fixed rate, depending on your credit and equity position. At a 7% fixed rate, expect 7.5% to 8.5% on a bridge. Add the 1% to 2% origination fee and carrying two mortgages — the cost is real.
Yes. Lenders calculate your debt-to-income ratio with both the bridge payment and your existing mortgage included. If your current mortgage is $3,000 and the bridge is $2,500, lenders see $5,500 in monthly housing debt.
Bridge Loans in Coronado