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San Diego County moves fast. If you find the right house in Lemon Grove, waiting on your current sale can cost you the deal.
A bridge loan gives you short-term cash to close on a new property before your existing home sells. It's a speed tool, not a long-term mortgage.
6 – 12 months
Typical Loan Term
680+
Preferred Min. Credit
20%+ in current home
Equity Required
Non-QM product
QM Status
10 – 15 business days
Est. Close Time
Bridge loans are non-QM. Lenders don't follow standard Fannie Mae guidelines. Equity in your current home is the main qualification driver.
Most lenders want at least 20% equity in your departing residence. Strong credit helps, but the deal structure matters more than your debt-to-income ratio.
Retail banks rarely offer bridge loans. Most of these deals go through private lenders, portfolio lenders, or non-QM wholesale channels.
At SRK CAPITAL, we shop across 200+ wholesale lenders. That means we find bridge products most borrowers can't access on their own.
The biggest mistake I see: borrowers underestimate carrying costs. You're paying on two properties until your current home sells.
Price your departing home aggressively. The faster it sells, the less you pay in bridge loan interest. This is a cash flow math problem.
Hard money loans are the closest alternative. They're also short-term and asset-based, but often carry higher rates and fees than bridge products.
A home equity line of credit (HELOC) is cheaper — but it requires your current lender's approval and takes time to set up. Speed is usually why people choose a bridge loan instead.
Lemon Grove sits in a competitive pocket of San Diego County. Homes here attract multiple offers, and contingency-based offers often lose.
A bridge loan lets you submit a non-contingent offer. In this market, that's a real structural advantage over buyers still waiting on their sale.
Most bridge loans run 6 to 12 months. Some lenders offer extensions if your home sale takes longer than expected.
No — that's the point. You close on the new Lemon Grove property first, then sell your existing home to pay off the bridge.
Rates run higher than conventional mortgages. Rates vary by borrower profile and market conditions — expect a premium for the short-term flexibility.
Yes. Bridge loans work for both primary residences and investment purchases. Lenders evaluate each deal on its equity and exit strategy.
Faster than most loans — sometimes 10 to 15 business days. Speed depends on the lender and how quickly you provide documentation.
Talk to your lender upfront about extension options. Having a clear backup plan before you close is non-negotiable.
Bridge Loans in Lemon Grove