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Bridge Loans in Montague
Montague's rural market runs on different timing than metro areas. Properties sell when they sell, which makes bridge financing critical when you find the right place.
Most Siskiyou County buyers can't afford to carry two properties long-term. Bridge loans let you move fast on a new purchase without waiting months for your current home to close.
You need equity in your current property and provable ability to service both mortgages temporarily. Most lenders want 20-30% equity in the home you're selling.
Credit requirements sit around 620-680 depending on the lender. Strong borrowers can access bridge loans up to 80% combined LTV across both properties.
Bridge loans are specialty products. Your local bank probably doesn't offer them, and if they do, their terms won't compete with dedicated bridge lenders.
We work with lenders who close bridge loans in 10-15 days. That speed matters when you're trying to secure a property in a market where good listings don't last.
Bridge loans cost more than conventional mortgages because you're paying for flexibility and speed. Expect rates 2-4% above conventional and origination fees of 1-2%.
The real question isn't cost—it's whether you can afford to miss out on the right property. In Montague's limited inventory market, that calculation often favors moving fast.
Hard money loans work for purchases only. Bridge loans cover the gap between two properties you own, which is a different use case entirely.
Home equity lines could work if you have time to set them up. But HELOC approval takes 30-45 days, and you can't use one you don't already have when opportunity knocks.
Siskiyou County properties can sit on the market for months. Bridge loans give you freedom to price your current home realistically instead of desperately dropping price to force a quick sale.
Agricultural and rural properties add complexity. Lenders who understand Montague's market won't panic about longer-than-average days on market for specialty properties.
Most bridge loans include 6-12 month terms with extension options. We structure them expecting your timeline, not hoping for a fast sale.
Yes, but you need lenders who underwrite rural properties regularly. Standard residential bridge lenders often decline ag properties regardless of equity.
Most lenders require 20-30% equity minimum. With strong credit and income, some will go to 80% combined loan-to-value across both properties.
Rates vary by borrower profile and market conditions. Expect 2-4 percentage points above conventional mortgage rates for the speed and flexibility.
Specialty bridge lenders close in 10-15 days with clean documentation. That's the entire point of the product—speed when you need to move.
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.