Bridge Loans: Your Key to Seamless Home Transitions in Santa Barbara, CA

Navigating the process of buying a new home in Santa Barbara, 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.

How Our Bridge Loans Work in Santa Barbara, CA

1

Prepare and List Your Home for Sale

Start by listing your current home for sale in Santa Barbara, CA or getting it ready for the market.

2

Find and Purchase Your New Home

Identify the new home you want to buy in Santa Barbara, CA, make an offer, and reach an agreement with the seller. You can then proceed with the purchase using our bridge loan.

3

Benefit from No Down Payment

Our bridge loan program in Santa Barbara, CA often does not require a down payment, freeing you from the need to come up with additional funds.

4

Sell Your Current Home

After your current home sells, we use the profits in Santa Barbara, CA to pay down the bridge loan balance, including any accrued interest.

5

Refinance to a Permanent Mortgage

Finally, we help you refinance into a traditional permanent mortgage in Santa Barbara, CA. You can choose to roll in all closing costs during this process, potentially requiring no money at the closing table.

Key Benefits of Our Bridge Loan Program

1. No Down Payment Required

Many of our bridge loans in Santa Barbara, CA do not require a down payment, making it easier for you to transition to your new home.

2. Simplified Qualification

You don’t need to qualify for both mortgage payments simultaneously.

3. Deferred Payments

Bridge loan payments in Santa Barbara, CA may be deferred, meaning no payments are due while you are using the bridge loan.

4. No Prepayment Penalties

You can pay off the bridge loan early without any penalties.

Why Choose Horizon Lending Services?

Our bridge loan in Santa Barbara, 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 Santa Barbara, CA to permanent mortgage financing, making the process as smooth as possible for you.

Horizon Lending Services – Your Partner in Home Financing Solutions

Ready to make your move? Contact us today to get started!

Benefits of Bridge Loans in Santa Barbara, California

Benefits: Bridge loans in Santa Barbara offer quick access to funds for purchasing a new home before selling your existing one. They provide flexibility in timelines and bridge the financial gap during the transition period.

Demographics: Santa Barbara is a diverse city with a population of approximately 91,000 residents. The median household income is $71,235, and the median property value is $1.1 million, making it an affluent community with a mix of professionals, retirees, and students.

Housing Market: The housing market in Santa Barbara is competitive with a median home price of $1.3 million. Bridge loans can help buyers secure their dream home by offering temporary financing solutions while navigating the high-cost real estate market.

Main Attractions: Santa Barbara is known for its beautiful beaches, stunning architecture, and vibrant arts and culture scene. Visitors and residents alike enjoy exploring attractions like Stearns Wharf, the Santa Barbara Zoo, and the Botanic Garden.

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