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Navigating the process of buying a new home in Somerville, 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 Somerville, TX or getting it ready for the market.
Identify the new home you want to buy in Somerville, 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 Somerville, 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 Somerville, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Somerville, 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 Somerville, 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 Somerville, 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 Somerville, 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 Somerville, 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!
A bridge loan in Somerville, Texas offers a short-term financing solution for homeowners looking to purchase a new home before selling their current one. This type of loan provides flexibility and allows individuals to avoid timing issues often associated with buying and selling homes simultaneously. Demographically, Somerville is a vibrant town located in Burleson County, Texas, with a diverse population that values community life. The town has a mix of families, young professionals, and retirees, creating a warm and welcoming environment for residents. In terms of the housing market, Somerville, Texas, offers a range of housing options, from cozy single-family homes to spacious ranch-style properties. The market is competitive but generally stable, providing opportunities for both buyers and sellers to make sound investments. Some of the main attractions in Somerville include the picturesque Lake Somerville, perfect for water activities and outdoor adventures. Additionally, residents can enjoy local parks, farmers' markets, and unique dining experiences that add to the town's charm and appeal.
Benefits of Bridge Loans in Somerville, Texas
