Finding your next home before your current one sells puts you in a bind: you need the equity from your existing residence, but it is still tied up in a home you have not sold. Our owner-occupied bridge loans solve this by letting you buy before you sell, so you never have to make a contingent offer in a competitive market.
We can lend against your departing residence, your new home, or cross-collateralize both. When the current home sells, the proceeds pay down or pay off the bridge. Because a bridge secured by an owner-occupied home can be consumer-purpose, these loans involve additional disclosures and underwriting requirements, and our team walks you through them so the timeline stays predictable.
Yes. An owner-occupied bridge loan gives you the funds to purchase your next primary residence now, then repay the loan when your current home sells.
It means we secure the bridge loan against both your departing residence and your new home, which can increase the funds available and strengthen your purchase offer.
The bridge is a short-term loan sized so you can carry it until the sale closes. Terms and any extension options are spelled out on your term sheet.
A bridge secured by an owner-occupied home is often consumer-purpose, which means it involves additional disclosures and underwriting requirements. Our team walks you through them.
We typically close in 5 to 10 business days, which lets you make a non-contingent offer and compete with cash buyers.
Fidelity Funding Corp · Direct California private money lender since 2006
450 N Brand Blvd, 6th Floor · Glendale, CA 91203 · Mon-Fri 8AM-6PM PT