Jackie Barikhan closes $2.5M Laguna Hills home with bridge loan and bank statement mortgage

Jackie Barikhan of Summit Lending helped self-employed buyers close on a $2.5 million Laguna Hills, California home in 24 days using a bridge loan and a bank statement mortgage. The deal shows how alternative financing can help homeowners buy before selling and qualify without relying only on tax returns.

Why it matters: - The closing shows how self-employed borrowers can use alternative documentation and equity access to compete for higher-priced homes. - The structure let the buyers purchase a new home before selling their Mission Viejo residence, reducing timing pressure in a competitive luxury market. - The approach can help borrowers whose tax returns do not fully reflect business cash flow.

What happened: - Jackie Barikhan, senior mortgage advisor with Summit Lending, closed a $2.5 million home purchase in Laguna Hills, California. - The transaction used a bridge loan and a bank statement mortgage. - The deal closed in 24 days. - The borrowers were moving from a Mission Viejo home valued at about $1.6 million. - The homeowners needed access to existing home equity to support a competitive down payment.

The details: - The financing combined a bridge loan to unlock equity from the Mission Viejo home with a bank statement mortgage for the new purchase. - The bank statement loan qualified the borrowers using business cash flow instead of tax returns. - The two-loan structure allowed the buyers to proceed without waiting for the prior home sale. - The financing setup was managed through one mortgage advisor. - The strategy delivered a fast close in the luxury housing market. - Barikhan said many business owners assume they must sell their current home first or cannot qualify because tax returns do not tell the full story. - Barikhan said the combined loan structure provided flexibility and allowed the borrowers to close in 24 days. - Summit Lending says Barikhan specializes in luxury home financing across California for self-employed professionals, entrepreneurs, investors, and high-net-worth borrowers. - Summit Lending lists bank statement loans, profit and loss loans, DSCR investor loans, jumbo mortgages, bridge loans, and other specialized lending solutions.

Between the lines: - The deal highlights growing demand for financing that fits borrowers with uneven or nontraditional income documentation. - Bridge loans can make move-up purchases possible when buyers need to tap home equity before their current property sells. - In luxury markets, speed and financing flexibility can be as important as loan size.

What's next: - Bridge financing and alternative-income programs are likely to remain useful for homeowners moving into higher-value properties. - Self-employed buyers may continue to rely on bank statement loans and similar products to stay competitive when standard underwriting falls short. - More information is available at My Lender Jackie and Talk with Jackie. - Barikhan also listed social profiles on LinkedIn, Instagram, Facebook, and X.