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Navigating the process of buying a new home in Elmore, 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 Elmore, AL or getting it ready for the market.
Identify the new home you want to buy in Elmore, 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 Elmore, 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 Elmore, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Elmore, 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 Elmore, 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 Elmore, 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 Elmore, 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 Elmore, 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 Elmore, Alabama offer great flexibility for homeowners. They provide short-term financing to bridge the gap between the purchase of a new home and the sale of the old one. This allows individuals to move quickly without being tied down by the sale of their current property. Demographics in Elmore, Alabama reflect a diverse community with a population of around 26,000 residents. The median household income is $57,440, and the median home value is $162,300. The area is known for its strong sense of community and family-friendly atmosphere. The housing market in Elmore, Alabama is stable and offers a variety of options for potential buyers. With a median home price well below the national average, Elmore presents an affordable opportunity for first-time homebuyers and those looking to invest in real estate. The market is poised for growth, making it an attractive location for property investments. Main attractions in Elmore, Alabama include the scenic Wetumpka crater, a popular destination for outdoor enthusiasts and hikers. The historical downtown area offers charming shops and restaurants, while the Coosa River provides opportunities for boating and fishing. Elmore is also known for its vibrant local arts scene and community events.
The Benefits of Bridge Loans in Elmore, Alabama
