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Navigating the process of buying a new home in Commerce, 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 Commerce, TX or getting it ready for the market.
Identify the new home you want to buy in Commerce, 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 Commerce, 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 Commerce, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Commerce, 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 Commerce, 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 Commerce, 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 Commerce, 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 Commerce, 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!
A bridge loan in Commerce, Texas, can be a lifesaver for individuals looking to purchase a new home before selling their existing one. These short-term loans provide the necessary funds to bridge the gap between the sale of the current property and the purchase of a new one, offering financial flexibility and peace of mind. Demographically, Commerce, Texas, is a vibrant city with a diverse population. Home to Texas A&M University-Commerce, the city boasts a blend of students, faculty, and residents from various backgrounds, creating a unique and dynamic community. When it comes to the housing market, Commerce offers a range of options to potential buyers. From historic homes with charming architecture to modern developments with state-of-the-art amenities, the city's real estate market caters to a variety of preferences and budgets. Commerce, Texas, is home to several main attractions that add to its appeal. The Northeast Texas Children's Museum, the Norris Community Center, and the Commerce City Park are just a few examples of the family-friendly destinations that residents and visitors can enjoy.
The Benefits of Bridge Loans in Commerce, Texas
