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Do I have to sell my current home to purchase another home?

Contributions: 1

Q&A

:1

I have been preapproved for a mortgage of $320k. It is contingent on the sale of my home $120k.
I currentl found a home for $169k and would like to keep my other property as rental.
Do I have any options?

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April 05 - Minneapolis

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Answers (2)

Joe and Cindy Welu, "Joe and Cindy Team"
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Joe and Cindy Welu, "Joe and Cindy Team"

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View my 63 listings

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This would definately be a question for your lender...it may not depend on the price points of the properties, but of your ratios, credit scores, how long your current property has been rented, etc.

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July 07

Kathleen Wray MA, ePro, "realtorkathy"
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Kathleen Wray MA, ePro, "realtorkathy"

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View my 1 listings

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Talk to your lender, as it sounds like you might have to sell you home first. Do you have enough for both payments in case your tenant defaults?

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April 05

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Do I have to sell my current home to purchase another home?

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Question is 10325 Chowen Avenue N,Brooklyn Park,MN 55443 abandaned

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