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Navigating the process of buying a new home in Gulf Shores, 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 Gulf Shores, AL or getting it ready for the market.
Identify the new home you want to buy in Gulf Shores, 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 Gulf Shores, 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 Gulf Shores, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Gulf Shores, 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 Gulf Shores, 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 Gulf Shores, 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 Gulf Shores, 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 Gulf Shores, 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 immediate funds to cover down payments on new properties before selling the existing one, facilitating smoother transitions for homeowners. Demographically, Gulf Shores has experienced a population growth due to its attractive environment with a median age of 42, offering a vibrant community for families and retirees alike. The housing market in Gulf Shores is competitive, with an increase in property values of 6.8% over the past year, making it a lucrative investment opportunity. Main attractions in Gulf Shores include the stunning beaches, Gulf State Park, The Wharf with shopping and dining options, and the annual Hangout Music Festival, drawing tourists and residents year-round.
Benefits of Bridge Loans in Gulf Shores, Alabama
