Owner-Occupied SFR

An owner-occupied bridge-to-perm loan is a means for homeowners to purchase a new home prior to the sale of their existing home.  An owner-occupied home is defined as a single-family residence, condominium, townhome, or owner-occupied duplex.    

Our owner-occupied bridge to perm loan program allows you to use the equity in your current home to purchase a new home by obtaining one loan against the new property and the existing property combined.  When the existing property is sold and the principal balance is reduced by a predetermined amount, the interest in the existing property is released and converted to a fixed term loan that is re-amortized over the remaining term.  This structure allows you to make competitive, non-contingent offers on the home you desire, takes the fear and uncertainty out of having to find a new home after selling your current home.   

Below are a few notable program features and benefits:

• No need to sell you current home to qualify for new home loan
• Rates start at 6.50% (6.69% APR)* and reduced another .25% at conversion
• Qualification based on the mortgage payments, taxes, and insurance of the new home; excluded from the departing home
• Loans from $250,000 to $5,000,000
• Borrowers may be able to obtain up to 100% of purchase price plus closing costs (subject to equity in departing home and income qualification)
• One loan secured by both properties (1^st lien on new home & 1^st / 2^nd lien on departing home)
• No prepayment penalty
• No need to refinance – bridge loan converts to fixed loan (remainder of 30-year term) upon sale of departing property
• No fixed time frame to sell departing property
• Max CLTV: 75% up to $2,500,000; 70% from $2,501,000 to $3,000,000; and 65% from 3,001,000 to $5,000,000.
• CA Lending Area: Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Diego, San Francisco, San Mateo, Santa Barbara,
  Santa Clara, Santa Cruz, Sonoma, Ventura

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(*) APR based on $2.5 million loan, 90% LTV / 75% CLTV, full doc, max 43% DTI, and 700+ middle FICO score. Rates are current as of 8/20/24. Rates subject to change until locked.

1-4 Residential Investment

A residential business purpose bridge loan is a short-term loan used for the acquisition or a cash-out refinance of a residential investment property where the funds are used for a legitimate business purpose. An investment property would be considered a rental property or fix-and-flip.

• Loans from $250,000 to $10,000,000
• Rates starting at 10.95%
• Interest only
• 6-to-24-month term w/ options to extend
• Up to 70% LTV
• Non-recourse available
• No prepayment penalty available
• Can close fast (No appraisal, No tax returns)

Commercial

Commercial bridge loans are short-term financing solutions that help investors purchase or renovate a commercial or 5+ unit apartment property prior to obtaining a permanent loan. Commercial bridge loans are typically used for value-add opportunities or time-sensitive transactions.

• Loans from $500,000 to $10,000,000
• Rates starting at 10.95%
• Interest only
• 6-to-24-month term w/ options to extend
• Multifamily, Office, Retail, Industrial, Mobile Home Parks, Self-Storage
• Up to 65% LTV
• Non-recourse available
• No prepayment penalty available
• Can close fast (No appraisal, No tax returns)

If you are interested in speaking to a mortgage advisor, click here to fill out our loan quote form to receive a call back.  The form takes less than five minutes to complete. 

An advisor will contact you within 24 hours of your inquiry to discuss the best available loan program options for your loan scenario.

You can also contact us at (415) 390-6750 to speak to a mortgage advisor.