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Navigating the process of buying a new home in Bessemer, 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 Bessemer, AL or getting it ready for the market.
Identify the new home you want to buy in Bessemer, 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 Bessemer, 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 Bessemer, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Bessemer, 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 Bessemer, 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 Bessemer, 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 Bessemer, 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 Bessemer, 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 Bessemer, Alabama provide a valuable financial solution for homebuyers allowing them to bridge the gap between the purchase of a new home and the sale of their existing one. This type of loan offers quick access to funds, flexibility, and convenience, helping individuals secure their dream homes without waiting for their current property to sell.
Demographics: Bessemer, Alabama has a diverse population with a mix of young professionals, families, and retirees. The city offers a rich cultural heritage and a strong sense of community, making it an attractive place for individuals looking to settle down or invest in real estate.
Housing Market: The housing market in Bessemer, Alabama is dynamic with a range of properties available to suit different budgets and preferences. Bridge loans can provide the necessary financial support to capitalize on the opportunities present in the market, whether it's for upgrading to a larger home or investing in rental properties.
Main Attractions: Bessemer boasts a variety of attractions, including the Alabama Splash Adventure water park, the Bessemer Hall of History Museum, and picturesque parks for outdoor activities. Residents and visitors enjoy the city's vibrant local culture, historical sites, and recreational amenities.