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Navigating the process of buying a new home in Patterson, 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 Patterson, CA or getting it ready for the market.
Identify the new home you want to buy in Patterson, 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 Patterson, 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 Patterson, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Patterson, 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 Patterson, 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 Patterson, 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 Patterson, 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 Patterson, 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 offer a valuable financing option for property buyers in Patterson, California. They provide immediate funds to secure a new home while awaiting the sale of an existing property. This flexibility eliminates the need for contingent offers, enabling buyers to act quickly in competitive markets. Demographically, Patterson is a diverse city with a growing population of approximately 23,514 residents. The median age of residents is 30.7 years, reflecting a younger demographic. Patterson boasts a strong sense of community, making it an ideal place to settle and invest in real estate. In terms of the housing market, Patterson offers a range of housing options from single-family homes to apartments. The market has seen steady appreciation in property values over the years, making it an attractive location for real estate investment. Bridge loans can help buyers take advantage of these market conditions. Patterson is known for its picturesque landscapes and outdoor recreational opportunities. The city is home to the Diablo Grande Golf & Country Club, attracting golf enthusiasts and nature lovers alike. Additionally, the Del Puerto Canyon and San Luis Reservoir State Recreation Area offer hiking, camping, and water activities for residents and visitors.
Benefits of Bridge Loans in Patterson, California
