Get Approved at The Lowest Rate
Navigating the process of buying a new home in Cottondale, 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 Cottondale, AL or getting it ready for the market.
Identify the new home you want to buy in Cottondale, 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 Cottondale, 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 Cottondale, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Cottondale, 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 Cottondale, 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 Cottondale, 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 Cottondale, 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 Cottondale, 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 Cottondale offer numerous benefits for borrowers. They provide short-term financing solutions that can bridge the gap between the purchase of a new property and the sale of an existing one, allowing homeowners to secure their dream home without delays. Demographically, Cottondale, Alabama, has a diverse population with a mix of families, young professionals, and retirees. The town boasts a strong sense of community with access to quality schools, healthcare facilities, and a range of recreational activities. In terms of the housing market, Cottondale offers a variety of housing options from single-family homes to townhouses and apartments. The market is competitive yet relatively affordable compared to neighboring areas, making it an attractive option for both homeowners and investors. Main attractions in Cottondale include the beautiful Lake Tuscaloosa where residents can enjoy water activities, the Alabama Museum of Natural History showcasing the state's history, and the nearby Tuscaloosa Riverwalk for scenic walks and outdoor events.
The Benefits of Bridge Loans in Cottondale, Alabama
