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Navigating the process of buying a new home in Banks, AL while selling your current one can be challenging. Horizon Lending Services' Bridge Loan program provides an ideal solution for a smooth transition, especially in today's competitive market where contingency offers are frequently not accepted.
Start by listing your current home for sale in Banks, AL or getting it ready for the market.
Identify the new home you want to buy in Banks, AL, make an offer, and reach an agreement with the seller. You can then proceed with the purchase using our bridge loan.
Our bridge loan program in Banks, AL often does not require a down payment, freeing you from the need to come up with additional funds.
After your current home sells, we use the profits in Banks, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Banks, AL. You can choose to roll in all closing costs during this process, potentially requiring no money at the closing table.
Many of our bridge loans in Banks, AL do not require a down payment, making it easier for you to transition to your new home.
You don’t need to qualify for both mortgage payments simultaneously.
Bridge loan payments in Banks, AL may be deferred, meaning no payments are due while you are using the bridge loan.
You can pay off the bridge loan early without any penalties.
Our bridge loan in Banks, AL provides the financial flexibility and convenience you need to buy a new home without waiting for your current home to sell, avoiding the hassle of managing two mortgages or making contingent offers. We handle the details, ensuring a seamless transition from your bridge loan in Banks, AL to permanent mortgage financing, making the process as smooth as possible for you.
Ready to make your move? Contact us today to get started!
Bridge loans in Banks, Alabama offer a convenient financing option for individuals looking to buy a new home before selling their current property. These loans provide immediate access to funds, allowing buyers to quickly secure a new home without waiting for their existing home to sell. Demographically, Banks, Alabama is a vibrant community with a mix of young professionals, families, and retirees. The area boasts a diverse population and a strong sense of community, making it an attractive place to live for individuals of all ages and backgrounds. The housing market in Banks, Alabama is competitive yet balanced, with a range of properties available to suit different budgets and preferences. Bridge loans can help buyers navigate this market by providing the flexibility and financial support needed to make a successful property purchase. Main attractions in Banks, Alabama include its picturesque natural landscapes, charming downtown area, and a variety of outdoor recreational activities. From hiking trails to local eateries, Banks offers something for everyone to enjoy and experience.
Benefits of Bridge Loans in Banks, Alabama
