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Navigating the process of buying a new home in Torrance, 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 Torrance, CA or getting it ready for the market.
Identify the new home you want to buy in Torrance, 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 Torrance, 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 Torrance, CA to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Torrance, 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 Torrance, 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 Torrance, 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 Torrance, 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 Torrance, 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!
Bridge loans in Torrance offer a flexible financing option that can help homeowners bridge the gap between the purchase of a new home and the sale of their existing one. This allows for smoother transitions without the stress of timing constraints. Demographically, Torrance, California, is a diverse city with a mix of cultures, making it a vibrant and inclusive community. It boasts a strong economy, excellent schools, and a range of housing options suitable for families, professionals, and retirees alike. The housing market in Torrance is dynamic, with a steady increase in property values over the years. The city offers a mix of single-family homes, townhouses, and apartments, catering to various preferences and budgets. Bridge loans can provide the necessary financial support to take advantage of this growing market. Some of the main attractions in Torrance include the beautiful beaches, shopping centers like Del Amo Fashion Center, and cultural sites such as the Torrance Art Museum. Residents also enjoy easy access to nearby attractions like Disneyland and Hollywood, adding to the city's allure.
Benefits of Bridge Loans in Torrance, California
