Get Approved at The Lowest Rate
Navigating the process of buying a new home in Slocomb, 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 Slocomb, AL or getting it ready for the market.
Identify the new home you want to buy in Slocomb, 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 Slocomb, 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 Slocomb, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Slocomb, 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 Slocomb, 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 Slocomb, 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 Slocomb, 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 Slocomb, 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 offer a short-term financing solution for individuals looking to purchase a new home before selling their existing property. In Slocomb, Alabama, these loans provide a seamless transition by covering the down payment and closing costs, avoiding the need for two mortgage payments simultaneously. Demographically, Slocomb has a population of around 2,000 residents, offering a tight-knit community feel. The city boasts a diverse mix of age groups, with a median household income of $36,000. Slocomb's affordability and friendly atmosphere make it an attractive place to call home. In terms of the housing market, Slocomb offers a range of options from cozy single-family homes to spacious modern developments. The median home price is around $120,000, with steady appreciation rates. Bridge loans play a crucial role in facilitating quick real estate transactions in this competitive market. Slocomb is known for its picturesque parks and outdoor recreational areas, including the Slocomb City Park and the Geneva State Forest. Residents can also enjoy local amenities such as shops, restaurants, and community events, creating a vibrant and welcoming environment for families and individuals alike.
The Benefits of Bridge Loans in Slocomb, Alabama
