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Navigating the process of buying a new home in Ellinger, 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 Ellinger, TX or getting it ready for the market.
Identify the new home you want to buy in Ellinger, 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 Ellinger, 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 Ellinger, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Ellinger, 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 Ellinger, 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 Ellinger, 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 Ellinger, 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 Ellinger, 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!
Bridge loans in Ellinger, Texas offer a crucial financial tool for individuals looking to purchase a new home before selling their existing one. These loans provide short-term funding that bridges the gap between the sale of the current property and the purchase of a new one, preventing financial strain and allowing smooth transitions. Demographically, Ellinger, Texas, is a quaint rural town with a population of approximately 400 residents. The community boasts a tight-knit feel with a mix of families and retirees, creating a warm and welcoming atmosphere. Residents enjoy a peaceful lifestyle surrounded by the natural beauty of the Texas countryside. The housing market in Ellinger, Texas, offers diverse options ranging from historic homes to modern properties. With a median home price below the national average, Ellinger presents an affordable housing market suitable for first-time buyers and those looking to invest in real estate. Bridge loans can help individuals capitalize on these opportunities without waiting to sell their current homes. Main attractions in Ellinger include the picturesque Colorado River for recreational activities like fishing and boating. The town also features historical sites like the Old City Hall and the Ellinger Cistern, providing residents with rich cultural experiences. Additionally, local festivals and events showcase the town's vibrant community spirit, making Ellinger a charming place to call home.
Benefits of Bridge Loans in Ellinger, Texas
