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Navigating the process of buying a new home in Sheffield, 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 Sheffield, AL or getting it ready for the market.
Identify the new home you want to buy in Sheffield, 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 Sheffield, 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 Sheffield, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Sheffield, 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 Sheffield, 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 Sheffield, 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 Sheffield, 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 Sheffield, 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 Sheffield, Alabama offer numerous advantages for homebuyers. They provide a short-term financing option to help bridge the gap between the purchase of a new home and the sale of the current one. This can be especially beneficial in a competitive real estate market, allowing buyers to secure a new home without having to delay their purchase. Sheffield, Alabama, boasts a diverse population with a rich history. The city is known for its friendly community, affordable cost of living, and excellent schools, making it an ideal place for families to settle down. The demographics include a mix of young professionals, families, and retirees, creating a vibrant and welcoming environment. The housing market in Sheffield, Alabama, is currently experiencing steady growth. With a range of housing options available, from historic homes to new developments, there is something to suit every taste and budget. The market is competitive but remains relatively affordable compared to surrounding areas, making it an attractive option for both first-time buyers and investors. Some main attractions in Sheffield include the renowned Ritz Theatre, which hosts a variety of performances and events throughout the year. Outdoor enthusiasts can explore the scenic Sheffield Municipal Park or enjoy water activities along the Tennessee River. The city also offers a mix of dining options, shopping centers, and cultural experiences, ensuring there is something for everyone to enjoy.
Benefits of Bridge Loans in Sheffield, Alabama
