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Bridge Loans in Exeter
Exeter's ag-driven real estate moves differently than urban California markets. Property sales take time here, especially for rural parcels and orchards.
Bridge loans solve a critical timing problem when you find the right property before selling your current one. In Tulare County, this often means securing citrus groves or farmland before they get snatched up.
You need significant equity in your current property—most lenders want at least 30-40%. Credit matters less than equity position and clear exit strategy.
Lenders approve based on combined loan-to-value across both properties. Strong borrowers can access funds in 7-14 days without selling first.
Most traditional banks won't touch bridge loans in Exeter. You need private lenders who understand Tulare County property types and agricultural timelines.
Expect rates 2-4 points above conventional mortgages. Fees run higher too—typically 2% origination plus additional points. The cost buys speed and flexibility.
Bridge loans make sense when Exeter properties don't sell on your timeline. I see this with inherited orchards or ranch land that needs months to find the right buyer.
Run the numbers carefully. If your current property sits more than 6 months, interest costs eat into your equity fast. Have a backup plan beyond hoping for a quick sale.
Hard money loans offer similar speed but typically finance the purchase property only. Bridge loans cover both properties in one transaction.
Construction loans work if you're building, but bridge loans move faster with less documentation. Interest-only loans reduce monthly payments during the bridge period.
Exeter's agricultural properties complicate bridge lending. Lenders value farmland conservatively and may exclude crop value from equity calculations.
The limited buyer pool for orchards and ag land means longer marketing times. Factor this into your exit strategy—optimistic 30-day sale projections rarely work here.
Most lenders require 30-40% equity minimum. Agricultural properties may need higher equity due to conservative valuations and longer sale timelines.
You'll need to refinance the bridge loan or sell quickly. Some lenders offer extensions at higher rates, but this gets expensive fast.
Yes, but expect conservative valuations. Lenders focus on land value and exclude crops, which means you need substantial equity to qualify.
Strong applications close in 7-14 days. Rural properties may take slightly longer due to appraisal scheduling and title work on ag parcels.
Rates vary by borrower profile and market conditions, typically 8-12%. Expect 2-3 points in fees plus higher rates than conventional mortgages.
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.