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Bridge Loans in Tulare
Tulare's agricultural economy creates unique timing challenges. Harvest income doesn't always align with real estate opportunities.
Bridge loans let you buy before you sell. This matters in Central Valley markets where inventory moves faster than most sellers expect.
Farm owners and ag business operators use these loans more than you'd think. Property transitions here rarely follow traditional timelines.
You need equity in your current property. Most lenders want 25-30% equity minimum to secure the bridge.
Credit matters less than equity position. I've closed bridge loans for borrowers with 640 scores if they had strong property value.
Your exit strategy determines approval. Lenders need proof your current home will sell or refinance within 12 months.
Expect to show both properties appraise well. The numbers need to work on paper before anyone commits short-term capital.
Portfolio lenders dominate Tulare's bridge market. Regional banks understand local property values better than national shops.
Private capital lenders offer faster closes. You'll pay more in rate but get funded in 10-14 days versus 30-45.
Not every lender does bridge financing. Of our 200+ wholesale sources, maybe 30 actively price these deals.
Rates run 2-4 points above conventional mortgages. You're paying for flexibility and speed, not long-term affordability.
Bridge loans work best when your current home has strong equity and sells fast. If you're underwater or in a slow pocket, this isn't your tool.
I structure most Tulare bridge deals as interest-only. Lower payments make sense when you're carrying two properties temporarily.
Watch for prepayment penalties. Some lenders charge fees if you pay off early, which defeats the purpose of bridge financing.
Get your current home listed before closing the bridge. Lenders want to see active marketing, not theoretical plans.
Hard money loans cost more but care less about exit strategy. Bridge lenders want proof of sale, hard money just wants equity.
Home equity lines seem cheaper upfront. But HELOCs take 30 days to fund and won't cover full down payment gaps in most cases.
Construction loans blend better with bridge needs for teardown purchases. If you're buying to rebuild, one loan might handle both phases.
Cash-out refinancing works if you have time. Bridge loans shine when timing matters more than rate.
Tulare County appraisers sometimes lag market moves. Budget extra time for appraisal reviews on both properties.
Agricultural property as collateral complicates things. Lenders price differently for farmland versus residential lots.
Title work takes longer here than in metro counties. Allow 3-4 weeks for clean title on rural parcels.
Local agents know which neighborhoods sell in 30 days versus 90. Their input affects whether bridge financing makes sense for your situation.
Most run 6-12 months. Lenders expect your current property to sell within that window or you'll refinance the bridge into permanent financing.
Yes, but lenders price agricultural collateral differently. Expect higher rates and lower advance amounts on farm parcels than residential properties.
You'll need to refinance the bridge into a long-term loan or extend the bridge term at higher cost. Plan your exit before you start.
Yes. Lenders appraise what you're buying and what you're using as collateral to establish total loan-to-value across both assets.
Most are fixed for the short term. Variable rates exist but make less sense when you're only borrowing for 6-12 months.
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.