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Navigating the process of buying a new home in Bay Minette, 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 Bay Minette, AL or getting it ready for the market.
Identify the new home you want to buy in Bay Minette, 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 Bay Minette, 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 Bay Minette, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Bay Minette, 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 Bay Minette, 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 Bay Minette, 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 Bay Minette, 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 Bay Minette, 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 Bay Minette, Alabama offer a unique financing solution for homebuyers. These short-term loans can bridge the gap between the purchase of a new home and the sale of a current one, providing flexibility and financial support during a transitional period. Demographically, Bay Minette is a charming city located in Baldwin County, Alabama. With a population of approximately 10,000 residents, the community enjoys a mix of urban and rural lifestyles. The city is known for its friendly atmosphere, strong sense of community, and diverse cultural heritage. The housing market in Bay Minette provides a range of options for potential buyers. With a mix of single-family homes, townhouses, and apartments, there is something for everyone. The market is competitive yet stable, offering opportunities for both buyers and sellers to make profitable transactions. Bay Minette boasts a variety of main attractions, including the Bay Minette Public Library, the Holly Hills Municipal Golf Course, and the Blacksher House and Heritage Museum. Residents and visitors can enjoy outdoor activities, cultural experiences, and historical sites throughout the city.
Benefits of Bridge Loans in Bay Minette, Alabama
