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Navigating the process of buying a new home in San Luis Obispo, 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 San Luis Obispo, CA or getting it ready for the market.
Identify the new home you want to buy in San Luis Obispo, 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 San Luis Obispo, 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 San Luis Obispo, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in San Luis Obispo, 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 San Luis Obispo, 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 San Luis Obispo, 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 San Luis Obispo, 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 San Luis Obispo, 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 offer quick financing solutions for homebuyers looking to purchase a new home before selling their current one. In San Luis Obispo, this can be particularly advantageous due to the competitive housing market. These loans provide flexibility, enabling buyers to secure their dream home without delays. Demographics: San Luis Obispo attracts a diverse population, including students attending California Polytechnic State University and families drawn to the region's exceptional quality of life. The median age is around 30, creating a vibrant community with a mix of young professionals and families. Housing Market: San Luis Obispo's housing market is robust, with a median home value higher than state and national averages. Bridge loans can help buyers navigate this competitive market, providing the financial resources needed to make strong offers and secure desirable properties. Main Attractions: San Luis Obispo offers a plethora of attractions, from its historic Mission San Luis Obispo de Tolosa to the bustling Downtown area filled with shops, restaurants, and cultural events. The region's natural beauty, including nearby beaches and hiking trails, provides endless opportunities for outdoor recreation.
Benefits of Bridge Loans in San Luis Obispo, California
