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Navigating the process of buying a new home in Coloma, CA 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 Coloma, CA or getting it ready for the market.
Identify the new home you want to buy in Coloma, CA, 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 Coloma, CA 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 Coloma, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Coloma, CA. 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 Coloma, CA 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 Coloma, CA 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 Coloma, CA 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 Coloma, CA 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 are a crucial financial tool for homeowners in Coloma, California, offering the flexibility to purchase a new home before selling their current one. This can prevent the need for a contingency offer and the stress of timing two transactions perfectly. Coloma, California, is a picturesque town located in El Dorado County with a population of around 500 residents. Demographically, it boasts a mix of families, retirees, and young professionals looking for a close-knit community with access to nature and history. The housing market in Coloma offers a unique blend of historical charm and modern amenities. With a median home value of $450,000, the market is stable yet competitive. Bridge loans can provide the needed funds to secure a dream home in this sought-after area. Aside from its housing market, Coloma is known for its rich history as the site of the California Gold Rush. Visitors can explore Marshall Gold Discovery State Historic Park, go whitewater rafting on the American River, or enjoy outdoor activities in the nearby Sierra Nevada Mountains.
Benefits of Bridge Loans in Coloma, California
