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Navigating the process of buying a new home in Bloomington, TX 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 Bloomington, TX or getting it ready for the market.
Identify the new home you want to buy in Bloomington, TX, 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 Bloomington, TX 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 Bloomington, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Bloomington, TX. 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 Bloomington, TX 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 Bloomington, TX 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 Bloomington, TX 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 Bloomington, TX 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 Bloomington, Texas offer significant advantages to residents and investors. These short-term loans provide quick funding for purchasing a new property before selling an existing one. They are ideal for those seeking flexibility in real estate transactions and can help avoid the stress of timing contingencies. Demographically, Bloomington is a diverse community in southeast Texas, with a mix of families, professionals, and retirees. The town boasts a strong sense of community and a low cost of living compared to nearby cities, making it an attractive place to settle down or invest in real estate. The housing market in Bloomington is dynamic, with a range of property types available, from single-family homes to rural estates. The town's real estate prices are relatively affordable, creating opportunities for first-time homebuyers and investors looking for potential growth. Some of the main attractions in Bloomington include the scenic Riverside Park, perfect for outdoor activities and picnics. The town also hosts annual events like the Bloomington Blueberry Festival, drawing visitors from across the state to enjoy local culture and entertainment.
Benefits of Bridge Loans in Bloomington, Texas
