Financing Options To Help Buy A New Home While Selling Current Home
This may be a good time to speak to a loan officer to see if you can use the equity in your current home to cover the down payment. This, however, may put more pressure on you to sell your current home.
If you're selling in a buyer's market then you have more to bargain with and make an offer to purchase contingent on the sale of your present home.
If it's a seller's market you might be able to negotiate a rent back of your home while you find a new home.
Another option would be to a landlord, renting your property or doing a rent-to-own of the property and move into your new home.
This'll take the stress out of selling, but there are tax implications. In either case, it’s best to check with a mortgage lender as well as your tax advise, as there are pros and cons to being a landlord.
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