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Navigating the process of buying a new home in Elkmont, 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 Elkmont, AL or getting it ready for the market.
Identify the new home you want to buy in Elkmont, 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 Elkmont, 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 Elkmont, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Elkmont, 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 Elkmont, 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 Elkmont, 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 Elkmont, 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 Elkmont, 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 Elkmont, Alabama offer quick and short-term financing solutions for individuals or businesses looking to purchase a new property while waiting for their existing property to sell. These loans provide flexibility and liquidity, allowing borrowers to bridge the financial gap during the transition period. Demographically, Elkmont, Alabama, is a charming town with a population of approximately 500 residents. The community is known for its friendly atmosphere and tight-knit neighborhoods, making it an ideal place for families and individuals seeking a peaceful living environment. The housing market in Elkmont, Alabama, is stable with a mix of affordable single-family homes and rural properties. The average home value is around $150,000, making it an attractive option for first-time homebuyers or those looking to invest in real estate in a serene setting. Some main attractions in Elkmont include the beautiful Richard Martin Trail for outdoor enthusiasts, the historic downtown area with local shops and restaurants, and the nearby Wheeler National Wildlife Refuge, offering a retreat into nature for residents and visitors alike.
Benefits of Bridge Loans in Elkmont, Alabama
