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Bridge Loans in Lathrop
Lathrop sits at a crossroads between Tracy, Stockton, and Manteca. Most buyers here move from Bay Area cities or upgrade within San Joaquin County.
Bridge loans let you buy before you sell. This matters when inventory moves fast or you need to compete with cash offers.
The typical Lathrop buyer carries equity from a previous home. Bridge financing unlocks that equity without waiting 60-90 days for escrow to close.
You need verified equity in your current property. Lenders typically require 20-30% equity minimum after accounting for the bridge loan.
Most bridge lenders approve based on combined loan-to-value across both properties. They verify income but focus more on exit strategy.
Expect rates 2-4 points above conventional mortgages. Terms run 6-12 months with most Lathrop buyers refinancing within 90 days after their sale.
Bridge loans come from private lenders and specialty finance companies. Banks rarely offer them anymore.
We work with lenders who close in 10-21 days. Speed matters when you're writing offers in competitive neighborhoods like River Islands.
Some lenders cap exposure in Central Valley markets. Working with a broker gets you access to lenders who understand Lathrop values and exit timelines.
Most Lathrop bridge borrowers overestimate how fast their old property will sell. Build in 30-60 extra days beyond your agent's projection.
I see buyers use bridge loans to avoid contingent offers. In areas like River Islands where builders favor clean contracts, this strategy works.
The math only works if your current home equity covers the bridge loan cost. If you're stretching to make numbers work, wait and sell first.
Hard money loans close faster but cost more. Bridge loans offer better rates when you have provable exit strategy through a pending sale.
HELOC seems cheaper until you factor in approval time. Most banks take 30-45 days while bridge lenders close in half that time.
Temporary buydown or rate buydown programs don't solve timing problems. Bridge loans specifically address the gap between purchase and sale dates.
River Islands properties move faster than older Lathrop neighborhoods. Your exit timeline changes based on which area you're selling from.
Many Lathrop buyers sell in Tracy, Manteca, or Stockton. Cross-county bridge loans work but add complexity to title and escrow coordination.
Spring selling season runs March through June here. Bridge loans originated in winter carry lower risk because your sale hits peak market timing.
Most lenders approve in 10-21 days. We've closed deals in 14 days when borrowers had clean equity positions and title work moved fast.
You can extend most bridge loans for 3-6 months with an extension fee. Some borrowers refinance into conventional loans if their sale timeline shifts significantly.
Yes, but lenders treat it like investor financing with stricter equity requirements. Expect 30-35% minimum equity and higher rates than owner-occupied bridge loans.
Most require an active listing or signed purchase agreement. They want proof you're serious about selling, not just accessing cheap equity.
Sale proceeds pay off the bridge loan immediately. Most escrow companies coordinate payoff directly so you never handle the funds yourself.
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.