Get Approved at The Lowest Rate
Navigating the process of buying a new home in Bonham, 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 Bonham, TX or getting it ready for the market.
Identify the new home you want to buy in Bonham, 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 Bonham, 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 Bonham, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Bonham, 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 Bonham, 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 Bonham, 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 Bonham, 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 Bonham, 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 Bonham, Texas offer a convenient financing solution for individuals looking to purchase a new home before selling their existing one. These short-term loans provide quick access to funds, allowing buyers to secure their new property without waiting for their current home to sell. This can be particularly advantageous in a competitive real estate market. Demographically, Bonham, Texas, is a charming city with a population of around 10,000 residents. The community is known for its friendly atmosphere and rich history, making it an ideal place to settle down. The median age in Bonham is 41 years old, and the median household income is $40,295, providing a diverse mix of residents. In terms of the housing market, Bonham offers a range of options from historic homes to modern developments. The median home value in Bonham is $123,700, making it an affordable choice for many homebuyers. Additionally, the city's housing market is stable, with a steady increase in property values over the past few years. Main attractions in Bonham include the Sam Rayburn House Museum, Bonham State Park, and the Fannin County Museum. These destinations offer opportunities for outdoor activities, historical exploration, and cultural enrichment, making Bonham a vibrant and engaging community for residents and visitors alike.
Benefits of Bridge Loans in Bonham, Texas
