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Navigating the process of buying a new home in Coden, 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 Coden, AL or getting it ready for the market.
Identify the new home you want to buy in Coden, 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 Coden, 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 Coden, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Coden, 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 Coden, 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 Coden, 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 Coden, 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 Coden, 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 Coden, Alabama offer a valuable financial solution for individuals looking to purchase a new home before selling their current property. These loans provide the flexibility and convenience of accessing funds quickly, allowing buyers to secure a new home without being tied up by the sale of their existing property. This can be especially advantageous in a competitive real estate market, giving buyers a competitive edge. Demographics: Coden, Alabama is a charming coastal community with a population of approximately 1,200 residents. The area boasts a mix of retirees, families, and young professionals, creating a diverse and welcoming neighborhood. The town has a rich cultural history and is known for its close-knit community and welcoming atmosphere. Housing Market: Coden's housing market is stable with a variety of housing options available, including single-family homes, waterfront properties, and vacation rentals. The median home price is affordable compared to nearby cities, making it an attractive location for first-time homebuyers and those looking to invest in real estate. Bridge loans can help buyers capitalize on these opportunities and secure their dream home in Coden. Main Attractions: Coden, Alabama offers a range of attractions for residents and visitors alike. From the picturesque Coden Beach to the historical Bellingrath Gardens and Home, there is no shortage of things to see and do in this coastal town. The vibrant local seafood scene and annual events such as the Coden Heritage Day festival add to the town's charm and appeal.
Benefits of Bridge Loans in Coden, Alabama
