Our Owner Occupied Bridge Loan Program allows Borrowers to be competitive throughout the buying process and get the house of their dreams. With our Owner Occupied Bridge Loan Program you can purchase your new home before selling your existing home without having to meet the stringent debt to income ratios of a conventional lender.

An Owner Occupied Bridge Loan is a short term – usually 11 months or less – loan given to homeowners who want to purchase a new primary residence prior to the sale of their current home.

Advantages:

1. Allows the borrower to leverage the equity in their current home before selling their current home.
2. The borrower does not need to qualify for a conventional bank loan on the NEW home in addition to the current home they may have a conventional loan on.
3. Quick underwriting – often as low as 7-14 days from complete package review to close.
4. With sufficient equity, the borrower might want to write an offer that is not contingent on financing, so is more competitive (though the borrower might still want an inspection contingency).
5. Since the borrower doesn’t need to sell his or her current home prior to purchasing the new one and we can close so quickly, the borrower can put a competitive offer on the new home purchase and close quickly.
6. After close of the bridge loan and the purchase of their new home the borrower can more leisurely sell their older home and in so doing be lessed stressed and get the best price available on the market.

When homeowners live in hot housing markets with fierce competition such as San Francisco, they need to be able to move quickly. They will often be competing with several other potential buyers. Submitting an offer with less contingencies – and that can close more quickly – gives these buyers an upper hand and can make their offer more appealing to the seller.

Many lenders and mortgage brokers choose not to offer Owner Occupied Bridge Loans. We reliably close on these types of loans.  Do not hesitate to reach out to discuss your loan scenario, get a quote, get pre-approved and close your loan.

At this time, we only make Owner Occupied Bridge Loans in California.  Check back as this may change in the future.

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