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Navigating the process of buying a new home in Covina, 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 Covina, CA or getting it ready for the market.
Identify the new home you want to buy in Covina, 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 Covina, 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 Covina, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Covina, 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 Covina, 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 Covina, 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 Covina, 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 Covina, 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 in Covina, California provide immediate funds for individuals or families looking to purchase a new home before selling their current one. This type of loan offers flexibility and allows homeowners to avoid the stress of timing the sale of their existing property with the purchase of a new one. Covina, a charming city located in Los Angeles County, has a diverse population with a median household income of $68,202. The city offers a mix of urban and suburban living, making it an attractive location for families and young professionals alike. The housing market in Covina is dynamic, with a median home value of $571,500. The market has shown steady growth over the years, making it a sound investment for those looking to buy property in the area. Some of Covina's main attractions include the beautiful Covina Park, which offers green spaces and recreational facilities for residents to enjoy. The city is also known for its historic downtown area, filled with shops, restaurants, and entertainment venues.
Benefits of Bridge Loans in Covina, California
