OWNER OCCUPIED LOANS

Yes. The owner occupied bridge lends on the home you live in: from 10.50%, up to 70% LTV, 11 and 12 month terms and a $500,000 minimum, in CA, OR, AZ, UT and FL, with a refinance into a conventional or jumbo loan within 12 months as the exit. The interest-only bridge also permits owner occupancy on SFR, condo and townhome, 2-4 unit and PUD properties, at up to 75% LTV from a 650 credit score. Owner-occupied loans are consumer loans, so the process follows consumer rules; call to confirm which program fits your situation.

Owner occupied loans

Yes, that is what the owner occupied bridge is for. It funds the purchase of your next primary residence from 10.50%, at up to 70% of the purchase price with a $500,000 minimum, and cross-collateral financing can tie the new purchase to the home you are selling. Terms are 11 and 12 months, and the loan is repaid by refinancing into a conventional or jumbo loan within 12 months, often once the old home has sold.

Owner occupied loans

Income can be documented with W-2s, 1099s, a P&L, or business or personal bank statements, so self-employed buyers are not shut out. The property must be the home you will live in, in California, Oregon, Arizona, Utah or Florida, the loan must be at least $500,000, and you need a clear path to refinance into a conventional or jumbo loan within 12 months.

Owner occupied loans

The owner occupied bridge is built for purchases with a tight closing date or a late underwriting condition, but it still takes longer than an investor loan, because consumer lending rules add disclosure and waiting periods that a business purpose loan does not have. The timeline for a specific bridge or VA file is set when the application is complete.

Owner occupied loans

VA Elite is Loan Goat's VA home loan pricing for veterans with great credit: some of the lowest VA rates available, pricing designed for higher FICO scores (640+), up to 100% LTV with no down payment, jumbo loan options up to $4M, escrow waivers and temporary rate buydown options, on a primary residence purchase or cash-out.

VA Elite home loans

A VA IRRRL is the VA's streamline refinance for borrowers who already have a VA loan: it lowers your rate and monthly payment with a simple, fast process, no appraisal required in most cases, no income verification, and loans up to $4M. Loan Goat writes it on primary, second and investment properties.

VA IRRRL streamline refinance

For an investment property in California you need a non-owner occupied property that fits the program (SFR, condo or townhome, 2-4 units, multifamily, mixed use, retail, office, industrial or land depending on the loan), equity or a down payment, a credit score above the program floor and an exit. Loans on a home you occupy are consumer loans with different rules and timelines. Loan Goat Inc. is licensed with NMLS (Company NMLS 1416824, Branch NMLS 2554618); licence details are on the disclosures page.

Lending in California