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Bridge Loans in Vacaville
Vacaville sellers face timing gaps when upgrading homes. Bridge loans fund your new purchase before your current home closes.
This matters in Solano County where competitive offers need strong proof of funds. Bridge financing keeps you liquid during transition.
Most Vacaville borrowers use bridge loans for 3-12 months. You avoid contingent offers that sellers reject in tight inventory.
You need significant equity in your current property. Most lenders want 30-40% combined loan-to-value across both homes.
Credit matters less than equity position. Scores above 620 work, but your property value drives approval.
Income verification is minimal compared to traditional loans. Lenders focus on your exit strategy and timeline to sell.
Bridge loans come from private lenders, not conventional sources. Rates run 7-12% with 1-2 point origination fees.
Approval takes 5-14 days versus 30-45 for conventional loans. Speed costs money but solves timing problems.
Few lenders offer true bridge products in Solano County. We access specialized portfolio lenders who understand this market.
Bridge loans fail when sellers overprice their current home. Your listing price determines whether this strategy works.
We structure these as first or second position depending on your equity. First position costs less but requires payoff coordination.
Never use bridge financing unless your home is listing-ready. Delays in selling create expensive extensions and stress.
Most Vacaville clients save money using home equity lines instead. Bridge loans solve speed problems, not affordability problems.
Hard money loans fund faster but cost more. Bridge loans offer slightly better rates with similar speed.
Home equity lines cost less but take 30 days to fund. You lose time-sensitive opportunities waiting for HELOC approval.
Contingent offers cost nothing upfront but get rejected. Vacaville sellers want clean contracts without sale contingencies.
Solano County appraisals take 1-2 weeks for bridge loans. Factor this into your purchase timeline and closing date.
Vacaville's residential inventory moves at varying speeds. Bridge loans make sense in seller markets, not when listings sit.
Title companies here handle simultaneous closings regularly. Coordinate with experienced escrow officers who understand bridge transactions.
Most lenders cap combined loans at 70-80% of your current home's value. Your available equity determines maximum loan amount.
You'll pay extension fees of 0.5-1% per month or refinance into conventional financing. Always have a backup plan.
Yes, but total debt cannot exceed 70-80% combined loan-to-value. Your existing mortgage reduces available borrowing capacity.
Most lenders require appraisals but skip full inspections. They focus on value verification, not property condition.
Expect 5-14 days from application to funding. Speed depends on appraisal scheduling and title work complexity.
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.