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Navigating the process of buying a new home in El Monte, 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 El Monte, CA or getting it ready for the market.
Identify the new home you want to buy in El Monte, 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 El Monte, 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 El Monte, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in El Monte, 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 El Monte, 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 El Monte, 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 El Monte, 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 El Monte, 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 offer a convenient and flexible financing option for individuals looking to purchase a new home before selling their existing one in El Monte. This type of loan allows borrowers to access the equity in their current property to finance the down payment for the new home. El Monte, California, boasts a diverse population with a strong Hispanic community and a growing Asian population. The city is known for its vibrant cultural scene, diverse culinary offerings, and numerous parks and recreational facilities, making it an attractive place to live for families and individuals alike. The housing market in El Monte is dynamic, with a mix of single-family homes, townhouses, and apartments available for sale. Median home prices have been steadily increasing, making it a lucrative market for investors and homeowners. Bridge loans provide a competitive advantage to buyers in this competitive market, allowing them to move quickly on a new property while leveraging their existing assets.
Benefits of Bridge Loans in El Monte, California
