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Navigating the process of buying a new home in Rainsville, 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 Rainsville, AL or getting it ready for the market.
Identify the new home you want to buy in Rainsville, 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 Rainsville, 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 Rainsville, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Rainsville, 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 Rainsville, 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 Rainsville, 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 Rainsville, 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 Rainsville, 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 in Rainsville, Alabama offer homeowners the flexibility to purchase a new home before selling their current one. This can be particularly beneficial in a competitive real estate market, allowing for quick transactions and avoiding the need to make a contingent offer. Rainsville, Alabama, with a population of approximately 5,000, boasts a close-knit community with a lower cost of living compared to national averages. The city is known for its friendly residents, good schools, and access to outdoor recreational activities, making it an attractive place to live for families and retirees alike. The housing market in Rainsville, Alabama, is stable with a mix of single-family homes, townhouses, and rural properties. The median home value is around $130,000, making it an affordable option for first-time homebuyers. Bridge loans can help facilitate quick purchases in this market without the stress of managing two mortgages simultaneously. Main attractions in Rainsville include the DeKalb County VFW Agricultural Fair, Northeast Alabama Agri-Business Center, and the Rainsville City Park. Outdoor enthusiasts can enjoy hiking trails, fishing spots, and camping areas in nearby Little River Canyon National Preserve, providing a variety of recreational opportunities for residents and visitors.
Benefits of Bridge Loans in Rainsville, Alabama
