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Navigating the process of buying a new home in Morro Bay, CA 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 Morro Bay, CA or getting it ready for the market.
Identify the new home you want to buy in Morro Bay, CA, 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 Morro Bay, CA 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 Morro Bay, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Morro Bay, CA. 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 Morro Bay, CA 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 Morro Bay, CA 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 Morro Bay, CA 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 Morro Bay, CA 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 Morro Bay, California provide a flexible financing solution for homeowners looking to purchase a new home before selling their existing one. This type of loan offers quick access to funds, enabling a smooth transition between properties without the stress of timing constraints. As for the demographics of Morro Bay, it is a vibrant coastal community with a population that largely consists of working professionals, retirees, and families. The town enjoys a moderate climate throughout the year, making it an attractive place to live for those seeking a relaxed lifestyle by the beach. The housing market in Morro Bay is characterized by a mix of charming beachfront properties, cozy residential neighborhoods, and upscale luxury homes. With the demand for housing remaining steady, investing in Morro Bay real estate, supported by bridge loans, can offer a promising opportunity for both homeowners and real estate investors. Main attractions in Morro Bay include the iconic Morro Rock, a popular landmark for outdoor enthusiasts and photographers alike. The town also boasts a bustling waterfront filled with seafood restaurants, shops, and art galleries, providing residents and visitors with a unique coastal experience.
Benefits of Bridge Loans in Morro Bay, California
