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Navigating the process of buying a new home in Troy, 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 Troy, AL or getting it ready for the market.
Identify the new home you want to buy in Troy, 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 Troy, 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 Troy, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Troy, 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 Troy, 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 Troy, 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 Troy, 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 Troy, 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 Troy, Alabama offer numerous benefits to both homebuyers and sellers. These short-term loans provide the flexibility to secure a new property before selling the current one, thus avoiding the need for a contingency clause. This can speed up the home buying process and give a competitive edge in a fast-moving market. Troy, Alabama, boasts a diverse population with a mix of young professionals, families, and retirees. The city's median age is around 29 years old, creating a vibrant community with a range of amenities catering to different age groups. Additionally, Troy is known for its strong sense of community and southern hospitality. The housing market in Troy, Alabama, is experiencing steady growth, making it an attractive location for both buyers and investors. The median home price in Troy is affordable compared to many other parts of the state, offering opportunities for first-time homebuyers and those looking to invest in real estate. Some of the main attractions in Troy include the historic downtown area with its boutiques and restaurants, the Troy University campus known for its academic excellence and sports programs, and the Troy Recreation Center offering various recreational activities for residents of all ages.
Benefits of Bridge Loans in Troy, Alabama
