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Navigating the process of buying a new home in Vernon, 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 Vernon, AL or getting it ready for the market.
Identify the new home you want to buy in Vernon, 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 Vernon, 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 Vernon, AL to pay down the bridge loan balance, including any accrued interest.
Finally, we help you refinance into a traditional permanent mortgage in Vernon, 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 Vernon, 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 Vernon, 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 Vernon, 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 Vernon, 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 provide quick financing solutions for individuals looking to bridge the gap between the purchase of a new home and the sale of their current property in Vernon, Alabama. These loans offer flexibility, allowing homeowners to secure funds without being contingent on the sale of their existing home. Demographics: Vernon, Alabama, has a population of approximately 2,000 residents. The town boasts a close-knit community with a mix of families and retirees. The median household income is around $35,000, making it an affordable place to live. Housing Market: The housing market in Vernon offers a variety of options, including single-family homes, historic properties, and spacious plots of land. With a median home price of $120,000, the market is considered stable and favorable for both buyers and sellers. Main Attractions: Vernon is home to scenic outdoor destinations such as the Lamar County Lake, ideal for fishing and boating enthusiasts. The town also features historical sites like the Lamar County Courthouse, showcasing the area's rich heritage. Additionally, residents enjoy easy access to nearby parks, shops, and dining establishments.
Benefits of Bridge Loans in Vernon, Alabama
