Loading
Loading
Goleta moves fast. Sellers rarely wait for buyers to close on their current home first.
A bridge loan gives you short-term cash to buy now. You repay it when your existing home sells.
6–12 Months
Typical Loan Term
Equity-Based
Underwriting Focus
Non-QM
Loan Type
7–14 Days
Typical Close Time
~20% in Current Home
Min. Equity Needed
Bridge Loans in Goleta
Bridge loans are non-QM products. Lenders focus on equity and assets, not just your debt-to-income ratio.
You typically need strong equity in your current home. Most lenders want at least 20% equity to work with.
Local decision guide
Use this guide to connect bridge loans eligibility, lender expectations, and local market factors before comparing payment options in Goleta.
Goleta moves fast. Sellers rarely wait for buyers to close on their current home first.
A bridge loan gives you short-term cash to buy now. You repay it when your existing home sells.
Bridge loans are non-QM products. Lenders focus on equity and assets, not just your debt-to-income ratio.
Banks rarely offer bridge loans. Most of this product lives in the wholesale and private lending world.
At SRK CAPITAL, we pull from 200+ wholesale lenders. That means real options, not a single bank's take-it-or-leave-it offer.
The biggest mistake I see: buyers wait too long and lose the house they want. A bridge loan solves that.
Structure matters on these deals. The exit strategy — how you'll repay — is what every lender scrutinizes first.
A HELOC is cheaper but slower to set up. It also requires your current home to be lien-free or low-leveraged.
Hard money loans overlap with bridge loans but carry higher costs. Bridge loans from wholesale lenders are usually the cleaner path.
Goleta sits between UCSB and Santa Barbara proper. Inventory tightens fast when anything decent hits the market.
Contingent offers get passed over here. Sellers in this corridor expect clean, ready-to-close buyers.
Most bridge loans run 6 to 12 months. That gives you time to list and close your existing home.
No — that's the whole point. You use your current equity to fund the new purchase before selling.
Requirements vary by lender. These are non-QM loans, so equity position often matters more than your score.
Yes. Bridge loans work on primary homes, second homes, and investment properties.
Many bridge loans close in 7 to 14 days. That speed is why Goleta buyers use them in competitive situations.
You may be able to extend the loan term, but that costs more. Always go in with a realistic sale timeline.