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Navigating the process of buying a new home in Santa Monica, 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 Santa Monica, CA or getting it ready for the market.
Identify the new home you want to buy in Santa Monica, 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 Santa Monica, 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 Santa Monica, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Santa Monica, 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 Santa Monica, 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 Santa Monica, 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 Santa Monica, 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 Monica, 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 Santa Monica offer a convenient short-term financing solution for homebuyers. They provide the flexibility to purchase a new property before selling an existing one, avoiding the need for a contingency offer. Santa Monica, California, is a diverse city with a population of approximately 90,000 residents. The city boasts a high standard of living, with excellent schools, healthcare facilities, and a strong sense of community. The housing market in Santa Monica is competitive, with a median home value significantly above the national average. Bridge loans can help buyers navigate this market by offering quick access to funds for down payments and closing costs. Main attractions in Santa Monica include its beautiful beaches, lively pier with an amusement park, and a vibrant downtown area filled with shops, restaurants, and cultural venues. The city's pleasant climate and outdoor recreational activities make it an attractive place to live.
Benefits of Bridge Loans in Santa Monica, California
