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Bridge Loans in Suisun City
Suisun City sellers face a common problem: finding their next home before closing on their current one. Bridge loans solve this by letting you buy before you sell.
These aren't your standard mortgages. Bridge loans run 6-12 months with higher rates because you're paying for speed and flexibility.
Most Suisun City borrowers use bridge financing to avoid contingent offers. Sellers prefer clean offers, and bridge loans make you look like a cash buyer.
You need significant equity in your current home. Most lenders require 25-30% equity minimum to approve bridge financing.
Credit matters less than equity position. We've closed bridge loans for borrowers with 640 credit scores when the numbers work.
Your debt ratios include both properties until the first one sells. That means you need income to support both payments temporarily.
Traditional banks don't do bridge loans anymore. You need portfolio lenders or private capital sources that specialize in short-term financing.
Our network includes 15-20 lenders who actively write bridge loans in Solano County. Rates vary by borrower profile and market conditions.
Expect 7-11% rates currently. You're paying 3-5 points above conventional rates for the speed and no-sale contingency advantage.
Closing happens in 7-14 days with the right lender. That speed costs money but wins deals in competitive markets.
I pull bridge loans when clients find their next home before listing their current one. The alternative is losing the new property or accepting a contingent sale.
Most borrowers refinance into conventional loans after their first home sells. You pay bridge rates for 2-4 months, then convert to normal financing.
Calculate the true cost before committing. If bridge fees total $15,000 but you save $30,000 by winning a bidding war, it pencils out.
Watch the exit strategy. Make sure your current home will sell quickly enough to avoid extending the bridge loan.
Hard money loans work for investors buying distressed properties. Bridge loans work for homeowners moving between primary residences.
Home equity lines seem cheaper but don't give you cash to close. Bridge loans provide the full down payment for your next purchase.
Contingent offers cost nothing upfront but sellers reject them. Bridge financing costs more but gets offers accepted.
Suisun City's position between Fairfield and Vallejo creates move-up buyer patterns. Families upgrading within Solano County use bridge loans to avoid double moves.
Military families at Travis AFB sometimes need bridge financing for PCS relocations. Timing doesn't always align with housing market cycles.
The commuter market to Sacramento and Bay Area means inventory moves quickly when priced right. Bridge loans help you act fast on good properties.
Approval happens in 2-3 days with complete documentation. Full closing takes 7-14 days depending on title and appraisal timelines.
Most lenders offer 6-month extensions with additional fees. Plan your listing strategy before taking bridge financing.
Bridge loans work for primary residence transitions. Investment purchases typically use hard money or investor loans instead.
You make interest-only payments on the bridge loan. Your existing mortgage payment continues until that property sells.
Most lenders require 25-30% equity minimum. Higher equity percentages improve your rate and approval odds.
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.