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Navigating the process of buying a new home in Salinas, 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 Salinas, CA or getting it ready for the market.
Identify the new home you want to buy in Salinas, 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 Salinas, 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 Salinas, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Salinas, 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 Salinas, 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 Salinas, 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 Salinas, 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 Salinas, 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 in Salinas offer borrowers the advantage of quick access to funds. These short-term loans can help cover the down payment on a new home purchase while waiting for the sale of the current one, preventing timing issues and allowing for smoother transitions in real estate transactions. Salinas, California, has a diverse population with a mix of cultures, including Hispanic, Caucasian, and Asian communities. The city is known for its rich agricultural heritage as the "Salad Bowl of the World." Its residents enjoy a moderate climate, making it an attractive place to live and work. The Salinas housing market has been steadily growing, with a rise in demand for affordable housing options. The median home prices have seen a gradual increase, making it a favorable market for both buyers and sellers. The availability of bridge loans can help facilitate these transactions and meet the evolving needs of homebuyers.
Benefits of Bridge Loans in Salinas, California
