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Navigating the process of buying a new home in Loraine, TX 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 Loraine, TX or getting it ready for the market.
Identify the new home you want to buy in Loraine, TX, 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 Loraine, TX 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 Loraine, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Loraine, TX. 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 Loraine, TX 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 Loraine, TX 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 Loraine, TX 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 Loraine, TX 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 Loraine, Texas provide a crucial financial solution for individuals looking to purchase a new home while waiting to sell their current one. This type of short-term loan bridges the gap between the sale of the existing home and the purchase of a new one, making the transition smoother and less stressful. Demographics Loraine, Texas, a charming small town with a population of approximately 600 residents, offers a close-knit community feel. The town boasts a diverse population, with residents of various ages and backgrounds, creating a welcoming and inclusive environment for new homeowners. Housing Market The housing market in Loraine, Texas, is currently favorable for both buyers and sellers. With a median home price that is affordable compared to surrounding areas, prospective buyers can find their dream homes at reasonable prices. Additionally, the market offers a variety of housing options, from historic homes to modern developments. Main Attractions Despite its small size, Loraine, Texas, has several main attractions that draw visitors and residents alike. The town's beautiful parks and recreational areas provide ample opportunities for outdoor activities, while its local shops and restaurants offer a taste of small-town charm. Additionally, the close proximity to larger cities like Abilene ensures access to a wide range of amenities and entertainment options.
Benefits of Bridge Loans in Loraine, Texas
