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Navigating the process of buying a new home in Port Arthur, TX 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 Port Arthur, TX or getting it ready for the market.
Identify the new home you want to buy in Port Arthur, TX, 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 Port Arthur, TX 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 Port Arthur, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Port Arthur, TX. 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 Port Arthur, TX 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 Port Arthur, TX 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 Port Arthur, TX 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 Port Arthur, TX 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 Port Arthur, Texas offer a flexible financing option for homeowners aiming to purchase a new home before selling their current property. This type of loan provides the necessary funds to bridge the gap between the sale of the existing home and the purchase of a new one, without requiring the homeowner to be left homeless or financially strained during the transition. Demographics: Port Arthur, Texas, is a diverse city with a population of approximately 54,000 residents. The city boasts a rich cultural heritage, with a blend of various ethnicities and a strong sense of community. The median household income in Port Arthur is around $36,000, making it an affordable place to live for many families. Housing Market: The housing market in Port Arthur offers a range of options for both buyers and investors. With a median home price of $105,000, the city provides affordable housing opportunities for those looking to settle down or make a real estate investment. Bridge loans can help facilitate seamless transactions in this competitive market. Main Attractions: Port Arthur is enriched with attractions such as the Museum of the Gulf Coast, a cultural hub showcasing the area's history and famous residents like Janis Joplin. Additionally, outdoor enthusiasts can explore the Sabine Lake for fishing and birdwatching or visit the Sea Rim State Park for beach activities and nature trails.
The Benefits of Bridge Loans in Port Arthur, Texas
