Photo: Milana Real Estate Group
I am rightsizing and I do not want to move twice.
Buy the home that fits your next chapter first, move once, and put decades of built-up equity to work.
Photo: Milana Real Estate Group
Buy the home that fits your next chapter first, move once, and put decades of built-up equity to work.
You can buy the home that fits your next chapter before selling the one you are in. That means one move instead of two, and the equity you have already built is what makes it possible.
Decades in one home usually means a great deal of equity and very little of it liquid. A bridge loan turns that equity into the purchase, so the move happens on your terms instead of a buyer’s.
The standard advice is to sell first and rent while you look. For someone who has been in the same house for three decades, that means packing twice, storing furniture, and living somewhere temporary at exactly the point in life when that is hardest.
It also means shopping under pressure. Once your house is sold, every week costs money and the home that actually fits may not be on the market yet.
Nobody wants to move twice. One of our clients put it in a review in exactly those words.
The Buying Power qualifier
Four simple questions and one straight answer, about the home you are leaving and the one you are moving to.
If you are 55 or over and moving within California, you may be able to transfer your existing property tax basis. The transfer itself goes through the county assessor, and your CPA or attorney should confirm the specifics for your situation. It is not an area we advise on.
Not on its own. This is asset-based lending, so the equity in your home carries most of the weight. Tell us the full picture and you will get a straight answer quickly.
The loan is written with that in mind. It runs twelve months and is interest only, so a slower sale changes your carrying cost rather than putting the loan at risk. Tell us early and we will work it through with you.
No. We want it paid off as soon as your home sells. If that takes three weeks, you pay for three weeks.
Yes. A buy-in at a continuing care or retirement community is a purchase like any other, and the equity in your current home is what funds it.
Twelve months, interest only, paid off when your current home sells. Most run sixty to ninety days.
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Four simple questions and one straight answer.
Golden Gate Lending Group Inc. · California DRE #01405277 · NMLS #241012 · Equal Housing Opportunity. Loans are made or arranged pursuant to a California Department of Real Estate license. This site is not a commitment to lend, and all loans are subject to underwriting and property approval.
