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Navigating the process of buying a new home in Theodore, 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 Theodore, AL or getting it ready for the market.
Identify the new home you want to buy in Theodore, 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 Theodore, 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 Theodore, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Theodore, 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 Theodore, 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 Theodore, 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 Theodore, 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 Theodore, 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 are a valuable financing option for homebuyers in Theodore, Alabama. These loans provide short-term funds to bridge the gap between the purchase of a new home and the sale of the current one. One of the key benefits of bridge loans is the ability to secure funds quickly, allowing buyers to move forward with their new home purchase without having to wait for their current home to sell. Theodore, Alabama, is a diverse community with a population that includes families, young professionals, and retirees. The area boasts a mix of suburban and rural living, offering a peaceful environment while still being close to the amenities of Mobile. With a strong sense of community, Theodore is an attractive place for those looking for a relaxed Southern lifestyle. The housing market in Theodore, Alabama, is experiencing growth and stability. The area offers a range of housing options, from single-family homes to waterfront properties. The affordability of homes in Theodore makes it an appealing choice for both first-time buyers and investors. With a steady demand for housing, the market in Theodore is competitive but offers great potential for value growth. Some of the main attractions in Theodore, Alabama, include the Bellingrath Gardens and Home, a historic estate with beautiful gardens and a museum. The Mobile Bay Estuarium is another popular destination, offering educational exhibits on the local marine ecosystem. For outdoor enthusiasts, the nearby Bayou La Batre offers opportunities for fishing, boating, and water sports.
Benefits of Bridge Loans in Theodore, Alabama
