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Navigating the process of buying a new home in Coker, 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 Coker, AL or getting it ready for the market.
Identify the new home you want to buy in Coker, 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 Coker, 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 Coker, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Coker, 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 Coker, 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 Coker, 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 Coker, 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 Coker, 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 Coker, Alabama offer a convenient financing option for homebuyers who need to purchase a new home before selling their current one. This type of loan provides short-term funds to bridge the gap between the purchase of a new property and the sale of an existing one, allowing for a smoother transition without the need for contingent offers. Coker, Alabama, boasts a diverse population with a mix of families, professionals, and retirees. The area's demographics show a median age of 42 and a median household income of $56,000. The community is known for its friendly atmosphere and strong sense of local pride. The housing market in Coker, Alabama, is thriving, with an average home price of $200,000. The market offers a variety of housing options, from modern single-family homes to historic properties. Bridge loans can provide homebuyers with the flexibility to make competitive offers and secure their dream home in this competitive market. Some main attractions in Coker include the scenic Lake Lurleen State Park, offering outdoor activities such as fishing, hiking, and camping. The nearby Tannehill Ironworks Historical State Park provides insight into the area's rich history, while the Tuscaloosa Museum of Art showcases a collection of regional and contemporary art.
Benefits of Bridge Loans in Coker, Alabama
