Get Approved at The Lowest Rate
Navigating the process of buying a new home in Somerville, 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 Somerville, AL or getting it ready for the market.
Identify the new home you want to buy in Somerville, 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 Somerville, 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 Somerville, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Somerville, 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 Somerville, 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 Somerville, 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 Somerville, 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 Somerville, 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 Somerville, Alabama offer a convenient solution for homeowners looking to purchase a new property before selling their existing one. These loans provide quick access to funds, allowing individuals to make a competitive offer without being contingent on the sale of their current home. Demographics in Somerville, Alabama depict a charming small town with a population of approximately 800 residents. The community is tight-knit, with a mix of families and retirees, fostering a welcoming and supportive environment for all. The housing market in Somerville, Alabama is characterized by a range of single-family homes and spacious properties. With a median home price that is affordable compared to neighboring areas, the market offers opportunities for both first-time buyers and those looking to upgrade their living space. Somerville, Alabama boasts a variety of main attractions, including outdoor recreational areas like Cotaco Creek and Wallace Mountain, perfect for hiking and exploring nature. The town also hosts annual events that celebrate local culture and provide opportunities for residents to come together.
Benefits of Bridge Loans in Somerville, Alabama
