Bridge Loans vs. Traditional Loans
Bridge loans are not traditional mortgage loans as they are not long-term. They offer speed and flexibility instead of low interest rates. A traditional loan typically requires strict income verification and a lengthy approval procedure. A bridge loan is quicker and typically based on your home’s equity.
Why Use a Bridge Loan in Los Angeles?
Los Angeles is one of the hottest housing markets in the country. Homes sell fast, and in-demand properties receive multiple offers. By waiting until after you purchase to sell your current home, you can miss out.
A bridge loan enables you to act quickly. It gives you the power to purchase now and sell afterwards. It is especially useful if you’re trading up to a larger home or relocating across town. With a bridge loan, you aren’t waiting. You stay competitive.
Timing Is Everything in L.A.
The Los Angeles housing market does not wait for anyone. Sellers want clean offers, and buyers who need to sell first tend to lose out. With a bridge loan, you can remove contingencies and get your dream home. It also gives you more time to sell your current house at the right price.
LBC Mortgage Makes Bridge Loans Easy
At LBC Mortgage, we specialize in Los Angeles bridge loans for home owners. We understand the local market and we move fast. Our team tailors make solutions for you so that you don’t miss out on opportunities.
We make it simple. We take you by the hand from application to closing, step by step. Our relationship with lenders and our experience enable us to close loans more quickly than the large banks. You will not have to navigate red tape. You will work with actual people who are interested in your objectives.
Personalized Service From Beginning to End
We’re hands-on people. So you get a personal loan officer who walks you through each step. We take the time to understand your goals and explain your options. You’re not a file number, just another transaction. You’re a homeowner making a smart move, and we’re here to assist.
Who Can Benefit from a Bridge Loan?
If you’re buying first, then a bridge loan is the best option. It’s also a great option if your equity is tied up in your current house. You can access that equity and use it as a down payment on your next home.
Bridge loans are ideal for homeowners who require flexibility. Downsizing, moving for a job opportunity, or simply upgrading – the loan gives you control over your timeline. No worries about hurriedly selling your home or settling for less than you should.
Bridge Loans for Growing Families
The majority of families in Los Angeles outgrow their homes and need to upgrade. It is stressful, though, to try to sell one home and purchase another at the same time. A bridge loan takes that stress away. You can relocate to your new home first, and list your existing home when you are ready.
Bridge Loans for Downsizing
If you’re an empty nester or retiree looking to downsize, a bridge loan saves you the hassle of temporary housing. Move straight into your new home, then sell your previous home at your convenience.
What Sets LBC Mortgage Apart
We don’t provide one-size-fits-all loans. We listen to your goals and craft the right bridge loan for your situation. Our local expertise translates into knowing how to act fast in the Los Angeles market.
Unlike traditional lenders, we look at the whole picture. Even if your income or credit has a few bumps, we may still have options for you. We work with a vast network of lenders, so we can get terms that fit your budget.
We also offer honest advice. If a bridge loan isn’t the perfect fit, we’ll tell you. Our goal is to help you make smart financial decisions.
Trusted by Los Angeles Homeowners
We’ve helped many families in Los Angeles get bridge loans quickly and efficiently. Our track record says it all. Clients adore our integrity, speed, and commitment. We treat every transaction as if it matters because it does.
How Bridge Loans Process Works
We start with a quick consultation to understand your needs. Our specialists then gather documents like your mortgage statement, proof of income, and property valuation. We then match you with the best lender for your situation.
You receive the money after approval. You can use it to pay a deposit or even finance moving costs. Once you’ve sold your current home, you repay the bridge loan. It’s that simple.
Our team stays in touch throughout. You’ll never have to guess what’s happening or where you stand in the process. We make sure your bridge loan fits into your overall financial plan.
Fast Approval Times
We know time is money when you’re trying to buy and sell. That’s why we prioritize fast turnarounds. Most of our bridge loans close in days, not weeks. We cut out delays and get your deal done.
Flexible Terms to Fit Your Timeline
LBC Mortgage offers flexible loan terms, usually 6 to 12 months. We understand that every situation is different. Some clients need more time to sell their home. Others sell it within a short time. In either scenario, we adjust the terms to accommodate your timeline.
We also make repayment easy. You can repay the loan early without penalty. That gives freedom and peace of mind.
No Hidden Costs
We have clear and upfront fees. There are no surprise charges or last-minute fees. We want to build trust and deliver value at every opportunity.
Get Started With LBC Mortgage Today
If you’re ready to act on bridge loans in Los Angeles, we’re ready to help. LBC Mortgage has the experience, speed, and service you need to succeed in this fast-moving market.
Do not wait for your current home to sell. Proceed now with confidence. Call us today and learn how a bridge loan can work for you. We are here to assist you in moving forward.