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Navigating the process of buying a new home in Salem, 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 Salem, AL or getting it ready for the market.
Identify the new home you want to buy in Salem, 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 Salem, 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 Salem, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Salem, 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 Salem, 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 Salem, 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 Salem, 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 Salem, 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 Salem, Alabama offer a convenient financing solution for homeowners allowing them to bridge the gap between the purchase of a new home and the sale of their current one. This enables individuals to secure their dream home without being burdened by the pressure of a contingency sale. Demographics in Salem, Alabama are characterized by a close-knit community with a mix of families and retirees. The population is around 7,000 residents with a median household income that is above the national average. The area is known for its friendly atmosphere and strong community spirit. The housing market in Salem, Alabama is stable and boasts a diverse range of properties from historic homes to modern builds. Property values have seen steady appreciation in recent years, making it an attractive investment opportunity. Moreover, the town's proximity to major urban centers adds to its appeal. Salem, Alabama, is home to a variety of main attractions including Lake Harding, a popular spot for boating and fishing. The Chewacla State Park offers outdoor enthusiasts a range of activities such as hiking and camping, while the local shops and eateries add charm to the town's quaint downtown area.
Benefits of Bridge Loans in Salem, Alabama
