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Navigating the process of buying a new home in Magnolia, 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 Magnolia, AL or getting it ready for the market.
Identify the new home you want to buy in Magnolia, 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 Magnolia, 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 Magnolia, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Magnolia, 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 Magnolia, 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 Magnolia, 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 Magnolia, 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 Magnolia, 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!
A bridge loan in Magnolia, Alabama, can be advantageous for those looking to purchase a new home before selling their current one. It provides short-term financing to bridge the gap between the purchase of a new property and the sale of an existing one, offering financial flexibility and enabling a smooth transition without the need to wait for a sale. Magnolia, Alabama, is a charming town with a diverse population. The community consists of young families, professionals, and retirees, creating a vibrant and welcoming atmosphere. The town boasts a strong sense of community spirit, with various local events and activities that bring residents together. The housing market in Magnolia, Alabama, is showing steady growth. The demand for homes is increasing, leading to a rise in property values. With a range of housing options available, from cozy townhouses to spacious single-family homes, buyers can find a property that suits their needs and preferences.
Benefits of Bridge Loans in Magnolia, Alabama
