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Navigating the process of buying a new home in Somerset, 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 Somerset, CA or getting it ready for the market.
Identify the new home you want to buy in Somerset, 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 Somerset, 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 Somerset, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Somerset, 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 Somerset, 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 Somerset, 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 Somerset, 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 Somerset, 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 a valuable short-term financing solution for homeowners in Somerset, California. These loans provide immediate funds for purchasing a new home while waiting for the sale of their current one, allowing for smoother transitions. Somerset, California, is a diverse community with a mix of young professionals and families. The median household income is above the state average, making it an attractive area for those seeking stability and growth. The housing market in Somerset is competitive, with a steady increase in property values over the years. Bridge loans provide a competitive edge in this market by helping buyers secure their new home quickly, giving them an advantage over other potential buyers. Some of the main attractions in Somerset include beautiful parks, hiking trails, and vineyards. Residents can enjoy outdoor activities and explore the local wine scene, making Somerset a desirable place to live for nature lovers and wine enthusiasts alike.
Benefits of Bridge Loans in Somerset, California
