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Navigating the process of buying a new home in Somerset, TX 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, TX or getting it ready for the market.
Identify the new home you want to buy in Somerset, TX, 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, TX 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, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Somerset, TX. 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, TX 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, TX 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, TX 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, TX 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 quick access to funds for buying a property before selling an existing one, making them ideal for homeowners looking to secure a new home in Somerset, TX without waiting for their current property to sell. These loans provide flexibility and convenience by bridging the gap between buying and selling, avoiding the stress of timing issues often faced in real estate transactions. Somerset, Texas, a small town with a population of approximately 1,600, offers a close-knit community feel ideal for families and individuals seeking a slower pace of life. With a diverse demographic mix, including a strong Hispanic influence, the town celebrates its cultural heritage through events and local gatherings. The housing market in Somerset presents a range of opportunities for buyers and investors. Currently, the market is stable, with a mix of single-family homes and acreage properties available at varying price points. Bridge loans can provide an advantage in this market by allowing buyers to act quickly and secure desirable properties. Some main attractions in Somerset include Somerset Park, a popular outdoor space for recreational activities and community events. Additionally, the town is known for its local restaurants serving up delicious Tex-Mex cuisine and traditional Southern fare, adding to the charm and appeal of living in Somerset, Texas.
The Benefits of Bridge Loans in Somerset, Texas
