Bridge Loans CA Rates

Hi, I am Isabella with RateZen Mortgage. One of the most stressful parts of moving up or downsizing in California is the timing catch-22: you have hundreds of thousands of dollars in equity sitting in your current home, but you cannot touch that equity until you sell. Yet you do not want to sell your home first and risk having nowhere to go, and you know that submitting a contingent offer in a competitive neighborhood puts you at the back of the line. A Buy-Before-You-Sell Bridge Loan at RateZen Mortgage eliminates that catch-22. A residential Buy-Before-You-Sell Bridge Loan is designed for California homeowners with significant equity, typically 30 percent or more equity in their departing residence, who want to purchase their next primary residence with a clean, non-contingent offer, move once, and sell their departing home after they have already moved out. We structure bridge financing in three ways depending on your equity and debt-to-income ratio. Number one: Departing-Residence Second-Lien Bridge. This keeps your existing first mortgage on your current home intact and places a short-term 6-to-12 month bridge second lien behind it, up to 75 percent to 80 percent Combined Loan-to-Value, to pull out your new down payment cash. Number two: Single Short-Term First-Lien Bridge. This pays off your existing mortgage on the departing home and advances the additional cash needed for your new down payment in one short-term note, often with interest-only or deferred payments until the home sells. Number three: Cross-Collateralized Bridge, which wraps the equity across both your departing residence and the new purchase. Best of all, on qualifying buy-before-you-sell programs, we do not have to count both homes' mortgage payments against your long-term DTI ratio once your departing property is listed for sale. When you sell a lived-in home while juggling showings, kids, and pets, you often leave money on the table. Moving into your new home first lets your listing agent stage and market your departing home vacant for maximum price. Want to see exactly how much equity you can unlock from your current home to buy your next one? Click the button below to schedule a 15-minute Buy-Before-You-Sell strategy call with Isaac Grajeda at RateZen Mortgage. RateZen Mortgage, a division of RateZen Mortgage, California DRE number 01948605, NMLS number 2089797. Call 424-RATE-ZEN, (424) 728-3936. Equal Housing Opportunity.

Quick reel transcript

Hi, I am Isabella with RateZen Mortgage. Want to buy your next California home without making a contingent offer or moving twice? How do you buy your next home in California when most of your down payment is still locked inside the home you live in right now? If you write an offer that is contingent on selling your current house first, many California sellers will pass your offer over for a non-contingent buyer. That is exactly what a Buy-Before-You-Sell Bridge Loan at RateZen Mortgage solves. Here are the three ways it works for you. First: A bridge loan unlocks up to 75 percent to 80 percent of the equity in your current home so you have the cash in hand for your next down payment and closing costs today. Second: Once your current home is prepped to list for sale, many of our residential bridge structures allow us to exclude your departing home's mortgage payment from your new loan's debt-to-income ratio. Third: You move into your new home first, stage and sell your old home vacant for top dollar, and then pay off the short-term bridge loan at closing. Planning a move-up or downsizing purchase? Click the link below to book a bridge strategy call with Isaac Grajeda at RateZen Mortgage. RateZen Mortgage, a division of RateZen Mortgage, California DRE number 01948605, NMLS number 2089797. Call 424-RATE-ZEN, (424) 728-3936. Equal Housing Opportunity.