Get Approved at The Lowest Rate
Navigating the process of buying a new home in Mentone, 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 Mentone, AL or getting it ready for the market.
Identify the new home you want to buy in Mentone, 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 Mentone, 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 Mentone, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Mentone, 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 Mentone, 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 Mentone, 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 Mentone, 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 Mentone, 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 Mentone, Alabama offer numerous advantages for homebuyers. They provide short-term financing that allows individuals to secure a new property while waiting for the sale of their current one. This eliminates the need for a contingent offer and gives buyers a competitive edge in a fast-paced market. Demographically, Mentone is a charming town located in DeKalb County, Alabama. With a population of around 360 residents, it offers a close-knit community feel. The median age in Mentone is 55 years, making it an ideal spot for retirees and those looking for a serene lifestyle. In terms of the housing market, Mentone boasts a mix of historic homes and modern properties. The median home value is $226,000, with an appreciation rate of 6.2% over the past year. The market is competitive yet stable, making it an attractive destination for both homebuyers and investors. Main attractions in Mentone include DeSoto State Park, known for its waterfalls and hiking trails, and the Mentone Brow Park, offering panoramic views of the surrounding area. The town also hosts events like the Colorfest in October, attracting visitors from near and far.
Benefits of Bridge Loans in Mentone, Alabama
