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Navigating the process of buying a new home in Banning, CA 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 Banning, CA or getting it ready for the market.
Identify the new home you want to buy in Banning, CA, 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 Banning, CA 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 Banning, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Banning, CA. 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 Banning, CA 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 Banning, CA 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 Banning, CA 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 Banning, CA 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 offer a convenient short-term financing solution for homeowners looking to purchase a new property before selling their current one. In Banning, California, these loans are especially beneficial as they provide the necessary funds to bridge the gap between buying a new home and selling the existing one, without causing financial strain. Demographically, Banning is a diverse city with a mix of families, young professionals, and retirees. The population is around 30,000 people, and the city has a median household income slightly below the national average. This makes bridge loans an attractive option for residents in need of temporary financial assistance during property transitions. In terms of the housing market, Banning offers a range of affordable housing options compared to neighboring cities. The median home price is below the California average, making it an attractive location for first-time homebuyers and investors. Bridge loans can help facilitate quick transactions in this competitive market. Some of the main attractions in Banning include the Gilman Historic Ranch and Wagon Museum, offering a glimpse into the city's rich history. Outdoor enthusiasts can enjoy the nearby San Bernardino National Forest and Morongo Golf Club. With bridge loans easing the burden of buying and selling properties, residents can fully enjoy the amenities Banning has to offer.
Benefits of Bridge Loans in Banning, California
