Loading
Bridge Loans in Del Mar
Del Mar's coastal market moves fast when properties hit the market. Bridge loans let you make non-contingent offers while your current home sells.
Sellers here often get multiple offers within days. Cash-equivalent buying power wins deals in this competitive beach town market.
Most Del Mar buyers moving up need quick access to equity. A bridge loan unlocks your existing property's value in 7-14 days instead of waiting months.
You need significant equity in your current property—typically 30% or more. Lenders combine both property values when calculating loan-to-value ratios.
Credit requirements are flexible, often accepting scores as low as 620. Income verification matters less than asset strength and exit strategy.
Your current home must be marketable and priced correctly. Lenders want to see it can sell within 6-12 months based on local comps.
Bridge loans in Del Mar typically run 6-12 months at rates between 7.5% and 11%. Rates vary by borrower profile and market conditions.
Expect to pay 1-3 points in origination fees. Speed costs money, but the ability to secure a $3M+ Del Mar property often justifies the expense.
Most lenders cap combined loan amounts around 80% of the new property's value. Some specialized programs go higher for strong borrowers with substantial reserves.
Del Mar buyers waste deals trying conventional financing with sale contingencies. In this market, you're competing against tech executives and business owners with liquid assets.
I structure most bridge loans as interest-only payments covering both properties. This keeps monthly costs manageable while your original home is listed.
The biggest mistake is waiting too long to start the process. Line up bridge financing before you find the property—approval takes 5-7 days but you'll need to act fast when the right house appears.
Hard money loans work faster but cost 2-4% more in interest. Bridge loans offer better rates when you have a clear timeline to sell your current property.
Home equity lines of credit seem cheaper but rarely provide enough capital for Del Mar's price points. You'd need $1M+ in available HELOC credit for most moves here.
Interest-only loans help after you close, but they don't solve the upfront equity problem. Bridge financing addresses the immediate gap between purchase and sale.
Del Mar's luxury coastal market sees seasonal fluctuations. Summer brings peak activity, while winter can extend selling timelines—factor this into your bridge loan term.
Properties near the Del Mar Fairgrounds or beach access command premium prices but attract serious buyers quickly. Lenders view these locations favorably when underwriting exit strategies.
HOA restrictions in some Del Mar communities affect how quickly properties sell. Your lender will review association rules during underwriting to assess marketability risk.
Most lenders offer 6-month extensions with additional fees. You can also refinance into a traditional mortgage or hard money loan if needed.
Yes, your existing property can be anywhere in California. Lenders care about combined equity and values, not matching locations.
On a $2M bridge loan at 9%, expect roughly $15,000 monthly in interest-only payments. This excludes property taxes and insurance.
Yes, lenders order full appraisals for both your current home and the new Del Mar property. This typically adds 7-10 days to the process.
You can often convert to conventional financing or use sale proceeds as larger down payment. Bridge loans offer flexibility for changing timelines.
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.