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Navigating the process of buying a new home in Sonora, 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 Sonora, CA or getting it ready for the market.
Identify the new home you want to buy in Sonora, 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 Sonora, 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 Sonora, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Sonora, 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 Sonora, 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 Sonora, 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 Sonora, 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 Sonora, 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!
Sonora, California presents a favorable environment for bridge loans due to its growing real estate market. Bridge loans offer a convenient financing option for individuals looking to purchase a new property without selling their existing one. Sonora boasts a diverse demographic makeup, with a mix of young professionals, families, and retirees. The city's population is around 4,610 with a median household income of $48,294. This demographic diversity provides a rich tapestry of community engagement opportunities. The housing market in Sonora is dynamic, with a median home value of $294,099. Bridge loans enable buyers to act quickly in this competitive market by providing short-term financing solutions. This flexibility is particularly advantageous in a market with low inventory and high demand. Sonora offers a range of attractions, including the Railtown 1897 State Historic Park, offering a glimpse into the area's railroad history. Outdoor enthusiasts can explore the nearby Stanislaus National Forest for hiking, fishing, and camping. The scenic beauty and recreational opportunities make Sonora a desirable place to live.
Benefits of Bridge Loans in Sonora, California
