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Navigating the process of buying a new home in Elrod, 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 Elrod, AL or getting it ready for the market.
Identify the new home you want to buy in Elrod, 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 Elrod, 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 Elrod, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Elrod, 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 Elrod, 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 Elrod, 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 Elrod, 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 Elrod, 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 Elrod, Alabama offer a convenient financial solution for homeowners looking to purchase a new property before selling their current one. These loans provide immediate access to funds to close on the new property, eliminating the need to wait for the sale of the existing home. Demographics Elrod, Alabama, is a quaint town with a population of around 350 residents. The town boasts a close-knit community with friendly neighbors and a low crime rate, making it an ideal place to raise a family or retire peacefully. Housing Market The housing market in Elrod features a mix of charming single-family homes and spacious rural properties. With the help of bridge loans, homebuyers can take advantage of the affordable real estate prices in the area and secure their dream home quickly. Main Attractions Elrod is known for its picturesque scenery, including beautiful parks and nature trails that are perfect for outdoor enthusiasts. The town also hosts annual community events, farmers' markets, and local fairs, providing residents with plenty of entertainment options.
Benefits of Bridge Loans in Elrod, Alabama
