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Navigating the process of buying a new home in Spearman, 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 Spearman, TX or getting it ready for the market.
Identify the new home you want to buy in Spearman, 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 Spearman, 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 Spearman, TX to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Spearman, 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 Spearman, 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 Spearman, 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 Spearman, 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 Spearman, 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 in Spearman, Texas offer numerous advantages for homebuyers. They provide a short-term financing option to bridge the gap between the purchase of a new home and the sale of the current one. This allows buyers to make a competitive offer without being contingent on the sale of their existing property. Demographics: Spearman, Texas, has a population of approximately 3,000 residents. The town is known for its tight-knit community feel, with a mix of families and retirees enjoying a peaceful rural lifestyle. Housing Market: Spearman's housing market is stable, with a median home value of around $120,000. The market offers a range of housing options, from spacious ranch-style homes to cozy single-family residences, making it an attractive destination for first-time homebuyers and growing families alike. Main Attractions: Spearman is home to the Crossbarr Ranch, a popular venue for outdoor activities such as hiking and camping. Additionally, the town hosts the annual Lynx Golf Tournament, drawing golf enthusiasts from across the state to enjoy a day of friendly competition.
Benefits of Bridge Loans in Spearman, Texas