The Situation
A couple in Kentfield had owned their Marin County home for 14 years. They had built substantial equity and were ready to relocate to the Peninsula to be closer to aging parents and a new job. Their target was Burlingame, where they had been watching the market for several months.
In early spring, a four-bedroom home came up in the neighborhood they wanted. It was priced at $2.35 million, in strong condition, and their agent told them plainly: this one would see multiple offers by Sunday.
The Challenge
They had approximately $1.4 million in equity in their Kentfield home, with a remaining mortgage of around $310,000 on a property valued at roughly $1.71 million. The math worked. The problem was timing.
Their Kentfield home was not yet on the market. They had not wanted to list it and face the pressure of needing to move quickly. But now, staring at a home they wanted to buy, a contingent offer was not going to be competitive. Their agent had seen contingent offers lose to non-contingent ones at the same price or lower many times in this market.
A conventional lender had told them the process would take 30 to 45 days minimum and that they could not carry both mortgages simultaneously without significant income documentation they could not easily produce. The husband was self-employed.
They had the equity. They had the intention to sell. What they did not have was a way to access that equity fast enough to make a credible, contingency-free offer on a home that was going to receive multiple bids in 72 hours.
The Solution
They called North Coast Financial on a Thursday. After a brief conversation about their equity position and their intended sale of the Kentfield property, they had a pre-approval letter by Friday morning. Their agent submitted the non-contingent offer that afternoon.
The bridge loan used the equity in their Kentfield home as collateral. The loan amount was $820,000, representing the portion of the purchase price they were bridging after their down payment from liquid savings. Their Kentfield home was valued at approximately $1.71 million against a mortgage of $310,000, giving them well over the required equity cushion to qualify at a comfortable LTV.
Because the property was owner-occupied, full funding took 16 days from application, consistent with federal TRID disclosure requirements. They were in escrow on the Burlingame home before their Kentfield home ever listed.
The Timeline
Called North Coast Financial
Described the situation: desired purchase price, existing equity, timeline. Discussed loan structure and pre-approval process.
Pre-approval letter issued
Letter in hand by Friday morning. Agent submitted non-contingent offer on Burlingame property that afternoon at list price with a 21-day close.
Offer accepted
Sellers accepted their offer over two contingent offers at slightly higher prices. The certainty of a non-contingent close was the deciding factor, according to the listing agent.
Bridge loan funded, Burlingame escrow closed
16 days from application to funding. They took possession of the new home and began planning the move.
Kentfield home listed
With no urgency forcing a rushed listing, they staged the home properly and priced it based on current market comps.
Kentfield accepted offer
Received two offers within 15 days of listing. Accepted one at $1.68 million, slightly below peak ask but well above the number needed to retire the bridge loan.
Kentfield sale closed, bridge loan retired
Escrow paid off the $310,000 existing mortgage and the $820,000 bridge loan simultaneously. No prepayment penalty. Net proceeds to borrowers after both payoffs: approximately $520,000.
The Outcome
The couple moved into their Burlingame home before their Kentfield property ever listed publicly. They sold their Marin home from a position of comfort rather than urgency, which let them price it correctly and not accept the first offer out of desperation. The bridge loan carried interest for 66 days after funding, which was a fraction of what an extended listing or a rushed sale at a discount would have cost them.
The pre-approval letter was ready within 24 hours of the initial call. That speed let them submit an offer while the home was still available. The TRID-governed timeline of 16 days to fund was fast enough to meet the seller's requested 21-day close. And the equity in Kentfield provided the collateral for a loan amount that did not require income documentation the self-employed borrower could not easily produce.
This is a composite case study based on common borrower scenarios at North Coast Financial. Names, exact figures, and specific property details have been changed or generalized to protect borrower privacy. Past loan terms are not a guarantee of future availability.