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Navigating the process of buying a new home in Foley, 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 Foley, AL or getting it ready for the market.
Identify the new home you want to buy in Foley, 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 Foley, 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 Foley, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Foley, 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 Foley, 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 Foley, 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 Foley, 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 Foley, 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 Foley, Alabama offer numerous benefits for individuals looking to purchase a new home before selling their current one. These short-term loans provide quick access to funds, allowing buyers to secure a new property without the need to wait for their old home to sell. This can be especially advantageous in a competitive real estate market where timing is crucial. Demographics: Foley, Alabama, is a vibrant city with a population that boasts a diverse mix of age groups and backgrounds. The community is known for its friendly locals, excellent school systems, and a growing economy that provides various opportunities for residents. Housing Market: The housing market in Foley, Alabama, is currently experiencing steady growth, making it an attractive location for both buyers and sellers. With a range of housing options available, from quaint suburban homes to modern downtown apartments, Foley offers something for everyone. Main Attractions: Foley, Alabama, is home to several main attractions that draw visitors from near and far. The city is known for attractions such as the OWA amusement park, the beautiful Graham Creek Nature Preserve, and the quaint downtown area with its charming shops and restaurants.
The Benefits of Bridge Loans in Foley, Alabama
