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Navigating the process of buying a new home in Newport Beach, 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 Newport Beach, CA or getting it ready for the market.
Identify the new home you want to buy in Newport Beach, 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 Newport Beach, 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 Newport Beach, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Newport Beach, 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 Newport Beach, 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 Newport Beach, 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 Newport Beach, 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 Newport Beach, 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 Newport Beach offer flexibility for individuals looking to buy a new home before selling their current one. They provide short-term financing to bridge the gap between the purchase of a new property and the sale of the existing one, allowing homeowners to secure their dream home without the stress of timing constraints. Newport Beach, situated in Orange County, California, boasts a thriving community with a median household income higher than the national average. The city's population predominantly comprises young professionals and families attracted to its upscale neighborhoods, excellent schools, and proximity to the beach. The housing market in Newport Beach is known for its luxury properties and competitive prices. Bridge loans can help buyers navigate this competitive market by providing quick access to funds needed to secure a property before it gets snapped up by other buyers, giving them a competitive edge in negotiations. Notable attractions in Newport Beach include the iconic Balboa Pier, Balboa Fun Zone, and the Newport Beach Harbor. The city offers plenty of outdoor recreational activities, upscale dining options, and a vibrant arts and culture scene, making it a desirable place to live and invest in real estate.
Benefits of Bridge Loans in Newport Beach, California
