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Navigating the process of buying a new home in Fayette, 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 Fayette, AL or getting it ready for the market.
Identify the new home you want to buy in Fayette, 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 Fayette, 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 Fayette, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Fayette, 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 Fayette, 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 Fayette, 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 Fayette, 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 Fayette, 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 offer a flexible financing option for those looking to purchase a new home before selling their current one. In Fayette, Alabama, these loans can help buyers secure their dream home without the stress of timing their sale perfectly. Demographics Fayette, Alabama, has a population of approximately 4,619 residents. The town is known for its tight-knit community and friendly atmosphere. The median household income in Fayette is $31,240, making it an affordable place to live. The housing market in Fayette offers diverse options, from historic homes to modern developments. The median home value in Fayette is $91,800, with a steady appreciation rate. Bridge loans can help buyers take advantage of these opportunities without waiting for their current home to sell. Fayette is home to the Guthrie Smith Park, a popular spot for outdoor recreation, including picnics and hiking. The Fayette Civic Center hosts community events and activities throughout the year, bringing residents together in a vibrant social scene.
Benefits of Bridge Loans in Fayette, Alabama
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