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Navigating the process of buying a new home in Sumiton, 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 Sumiton, AL or getting it ready for the market.
Identify the new home you want to buy in Sumiton, 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 Sumiton, 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 Sumiton, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Sumiton, 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 Sumiton, 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 Sumiton, 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 Sumiton, 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 Sumiton, 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 Sumiton, Alabama offer valuable financial assistance for individuals looking to purchase a new home before selling their current one. These short-term loans provide funds to cover the down payment and closing costs of the new property, helping buyers seize opportunities in a competitive real estate market. Demographically, Sumiton is a charming city located in Walker County, Alabama. With a population of approximately 2,500 residents, Sumiton offers a tight-knit community feel. The median household income in Sumiton is $41,518, providing a mix of affordable living and access to local amenities. The housing market in Sumiton is dynamic, with a median home value of $122,300. Bridge loans play a crucial role in facilitating quick transactions in this market, allowing buyers to act swiftly when desirable properties become available. These loans bridge the financing gap between buying and selling, enabling seamless transitions for homeowners. Sumiton boasts various attractions for residents and visitors alike. From the serene Sumiton City Park to the engaging Historic Coal Miner's Museum, there is no shortage of places to explore in this quaint city. The vibrant local culture and welcoming community make Sumiton a desirable place to call home.
Benefits of Bridge Loans in Sumiton, Alabama
