- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (3)
- wetdawgs
- Contributions:26833
As you don't want to pay both, then sell the first house and then place an offer on the second.
- Paula Annarumma, "PCA Realty Inc"
- Contributions:156
Your best and least complicated road is to list and sell your current home first. Your new home's seller will probably not wait for you to sell your current home, and in this market, it may be difficult to sell if not properly marketed and priced well. You as a seller would certainly not want to wait for a potential buyer to sell, and your attorney would discourage you also. your best bet is to get your home on the market while interest rates are still low and make buying affordable.
- wayne lancaster, "funds2"
- Contributions:1177
Short answer is yes.......... you would need to have acceptable income/credit/employment/down payment and qualify with both payments. You could also receive approval subject to proof of closing on current home but that would be a conditional approval that Seller may not be agreeable to and Lender's Pre Approval letter would need to disclose that upfront.
If you thought about doing a Cash Out refinance/Home Equity loan on current home to obtain down payment funds there are restrictions particularly in Texas.
If you thought about doing a Cash Out refinance/Home Equity loan on current home to obtain down payment funds there are restrictions particularly in Texas.
I have found a home I want to purchase. I plan on selling my current home, but have not listed it
I have adequate savings to pay both notes, but do not want to. Will a lender approve a mortgage with my home sale pending?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.