San Jose Bridge Lenders for Residential Real Estate
A list of lenders offering bridge loans for a San Jose residential property purchase. Most private mortgage lenders only offer loans for investment or business purpose. Some will consider a primary residence bridge in which a homeowner uses equity in one home to buy another. Change the loan type to "Residential Owner-Occupied" for more options.
Private bridge loan secured by a single family rental home in West San Jose, funded in November 2014. The Borrowers owned the property free and clear, but they need to cash out some equity to use for other Bay Area real estate investments. The property was valued at $870K, resulting in just over 70% LTV. The Borrowers will work on a conventional refinance in the next 6 months. The term for this 1st trust deed mortgage is 1 year.