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Navigating the process of buying a new home in South Padre Island, 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 South Padre Island, TX or getting it ready for the market.
Identify the new home you want to buy in South Padre Island, 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 South Padre Island, 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 South Padre Island, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in South Padre Island, 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 South Padre Island, 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 South Padre Island, 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 South Padre Island, 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 South Padre Island, 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 a valuable financial tool for individuals looking to purchase property in South Padre Island. These short-term loans provide quick access to funds, allowing buyers to secure a new property before selling their existing one. This can be particularly advantageous in a competitive real estate market like South Padre Island, where properties may receive multiple offers. Demographics in South Padre Island show a mix of permanent residents and vacation homeowners. The island attracts a diverse population, including young families, retirees, and tourists. Its proximity to the Gulf of Mexico makes it a popular destination for water sports enthusiasts, beach lovers, and nature enthusiasts. The housing market in South Padre Island offers a range of property options, from beachfront condos to single-family homes. The market has seen steady growth in property values over the years, making it an attractive investment opportunity. With the help of a bridge loan, buyers can take advantage of favorable market conditions and secure their dream property. Main attractions in South Padre Island include stunning beaches, like Isla Blanca Park and South Padre Island Beach, where visitors can enjoy swimming, sunbathing, and water activities. The island also offers attractions such as Schlitterbahn Waterpark, Sea Turtle, Inc., and the South Padre Island Birding and Nature Center, making it a vibrant and exciting place to live or vacation.
Benefits of Bridge Loans in South Padre Island, Texas
