Get Approved at The Lowest Rate
Navigating the process of buying a new home in El Paso, 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 El Paso, TX or getting it ready for the market.
Identify the new home you want to buy in El Paso, 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 El Paso, 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 El Paso, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in El Paso, 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 El Paso, 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 El Paso, 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 El Paso, 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 El Paso, 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 El Paso, Texas can provide short-term financing to bridge the gap between selling a current home and purchasing a new one. One primary benefit is the ability to access funds quickly, allowing homeowners to secure a new property without waiting for their existing home to sell. Demographically, El Paso is a diverse city with a population of over 680,000 people. The city boasts a strong Hispanic influence, vibrant cultural scene, and a lower cost of living compared to other major cities in Texas. The housing market in El Paso is characterized by affordable home prices, making it an attractive option for first-time homebuyers and investors alike. With a steady appreciation rate, El Paso's real estate market offers stability and potential for growth. Main attractions in El Paso include the stunning Franklin Mountains State Park, the historic Plaza Theatre, and the delicious cuisine found in the city's many authentic Mexican restaurants. Additionally, the El Paso Museum of Art and the Wyler Aerial Tramway are popular destinations for residents and visitors.
Benefits of Bridge Loans in El Paso, Texas
