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Navigating the process of buying a new home in Riverside, 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 Riverside, AL or getting it ready for the market.
Identify the new home you want to buy in Riverside, 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 Riverside, 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 Riverside, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Riverside, 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 Riverside, 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 Riverside, 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 Riverside, 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 Riverside, 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 Riverside, Alabama offer a flexible financing option for individuals looking to purchase a new home before selling their existing one. This type of loan provides quick access to funds, enabling buyers to secure their new property without waiting for their current home to sell. Riverside, Alabama, is a quaint town with a population of approximately 2,300 residents. The community is known for its close-knit feel, friendly locals, and picturesque views of the Coosa River. The town's demographics include a mix of families, retirees, and young professionals, creating a diverse and welcoming environment. The housing market in Riverside, Alabama, offers a range of options for buyers, from charming historic homes to modern developments. The area has seen steady growth in property values, making it an attractive investment opportunity for potential homebuyers. With the help of bridge loans, individuals can take advantage of the competitive market and secure their dream home in Riverside. Riverside, Alabama, boasts several main attractions, including the serene River Walk Park, ideal for picnics and leisurely strolls. Outdoor enthusiasts can explore the nearby Cahaba River Wildlife Management Area, offering hiking trails and wildlife viewing opportunities. Additionally, the town's rich history is showcased at the Riverside Historic Depot Museum, providing insight into the area's past.
Benefits of Bridge Loans in Riverside, Alabama
Bridge loans also help avoid the stress of carrying two mortgages simultaneously, allowing homeowners to move into their new home while still managing their existing financial commitments.
