A short-term loan that uses the equity in your current home to provide the down payment for the next one. It "bridges" the gap until your first home sells.
You sell your home but stay in it as a "tenant" for 30–60 days. This gives you the cash from the sale and extra time to close on your new place. 4. Step-by-Step Checklist
You only have to move once, and you can take your time prepping your old house for sale without living in a construction zone.
This is generally the "safer" financial route because you know exactly how much cash you have from your sale before committing to a new mortgage.
Buying a house while selling your current one is often described as "trying to change clothes while running a marathon." It’s a complex balancing act of timing, finances, and logistics. 1. The Strategy: Sell First, Then Buy
Don't just get pre-qualified; get a full pre-approval so you can act fast when you find a house.
A short-term loan that uses the equity in your current home to provide the down payment for the next one. It "bridges" the gap until your first home sells.
You sell your home but stay in it as a "tenant" for 30–60 days. This gives you the cash from the sale and extra time to close on your new place. 4. Step-by-Step Checklist
You only have to move once, and you can take your time prepping your old house for sale without living in a construction zone.
This is generally the "safer" financial route because you know exactly how much cash you have from your sale before committing to a new mortgage.
Buying a house while selling your current one is often described as "trying to change clothes while running a marathon." It’s a complex balancing act of timing, finances, and logistics. 1. The Strategy: Sell First, Then Buy
Don't just get pre-qualified; get a full pre-approval so you can act fast when you find a house.