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Navigating the process of buying a new home in Newbern, 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 Newbern, AL or getting it ready for the market.
Identify the new home you want to buy in Newbern, 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 Newbern, 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 Newbern, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Newbern, 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 Newbern, 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 Newbern, 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 Newbern, 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 Newbern, 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 a valuable solution for Newbern residents looking to purchase a new home before selling their current one. These short-term loans provide funds to bridge the gap between the sale of the existing property and the purchase of a new one. This flexibility allows homeowners to seize opportunities in the competitive real estate market without the stress of juggling two mortgages. Demographics: Newbern, Alabama, is a charming town with a population of approximately 2000 residents. The town boasts a close-knit community with a rich historical background and a focus on preserving its Southern heritage. The residents of Newbern are predominantly middle to upper-middle class families with a strong sense of community pride. Housing Market: The housing market in Newbern offers a mix of historic homes and modern amenities. The average home price in the area is competitive, making it an attractive option for first-time buyers and families looking to settle down. The demand for housing in Newbern is steadily increasing, making it a promising investment opportunity for potential buyers. Main Attractions: Newbern is home to several main attractions, including the historic Gaineswood Mansion, a stunning antebellum home that attracts history enthusiasts and tourists alike. Additionally, the town hosts a variety of cultural events throughout the year, such as art fairs and music festivals, showcasing the vibrant and diverse community spirit of Newbern.
Benefits of Bridge Loans in Newbern, Alabama
