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Bridge Loans in Lodi
Lodi's market moves fast when properties hit the sweet spot. Bridge loans give you buying power before your current home sells.
Wine country estates and older Lodi homes often need quick closes. Traditional contingent offers lose to cash in competitive situations.
Most Lodi sellers prefer non-contingent offers. A bridge loan positions you as a cash buyer while you list your current property.
You need equity in your current property — typically 30% or more. Lenders advance against that equity to fund your new purchase.
Credit matters less than equity position. I've closed bridge loans for borrowers with 620 scores if equity and exit strategy are solid.
Your current home must be listed or have a clear sale timeline. Lenders want to see you're committed to paying off the bridge within 12 months.
Bridge loan rates run 7-12% depending on equity and property type. You're paying for speed and flexibility, not long-term affordability.
Most lenders charge 2-3 points upfront plus appraisal and closing costs. Budget $8,000-$15,000 in fees for a typical Lodi transaction.
Not every lender does bridge financing. We work with 15-20 specialized bridge lenders who move fast on San Joaquin County properties.
Some lenders offer interest-only payments during the bridge period. Others defer all payments until sale closes.
Bridge loans work best when you found your next home but need 60-90 days to sell. Shorter windows get expensive. Longer windows fail underwriting.
I see borrowers underestimate carrying costs. You're paying for two properties temporarily — bridge payment plus your new mortgage or rent.
Lodi's older housing stock sometimes appraises low. Build in appraisal cushion because bridge lenders use conservative valuations on both properties.
Have backup financing ready. If your home sits longer than expected, you may need to refinance the bridge into a HELOC or cash-out refi.
Hard money loans work for properties needing major rehab. Bridge loans work for move-in ready homes with equity backing.
Home equity lines take 30-45 days to fund. Bridge loans close in under two weeks when you need to move fast.
Contingent offers cost you nothing upfront but lose to cash. Bridge loans cost more but win competitive bidding situations.
Lodi properties under $600K sell faster than premium homes. Your bridge timeline depends heavily on your current home's price point.
San Joaquin County appraisers are thorough. Budget 10-14 days for appraisal completion on both properties — it slows approval.
Spring selling season moves faster than winter in Lodi. Factor seasonality into your exit strategy or expect extended bridge terms.
Wine country buyers often pay cash. If you're selling a Lodi home to upgrade, bridge financing levels the playing field.
Approval takes 3-5 days with solid equity and documentation. Funding happens 7-14 days from application if both appraisals come in clean.
Most lenders require an active listing or signed listing agreement. They want proof you're committed to selling within the bridge term.
You'll need to refinance the bridge into permanent financing or sell at a lower price. Some lenders offer 6-month extensions with higher rates.
Yes. Investors use bridge loans to buy rehab projects before selling rental properties. Rates run slightly higher than owner-occupied.
You need at least 30% equity in your current property. Higher equity gets better rates and larger loan amounts.
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.