If i have a home that i am buying now would i have to sell my home first before i buy another one?

  • March 28 - Gray
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Answers (3)

You do not have to sell your current home to buy a new one assuming your debt to income ratio is within the guidelines. As long as you can carry both monthly payments with the monthly income you have then you are fine. I have two clients right now who are buying new homes while their current one is on the market. It is all about the DTI (debt to income ratio).
  • March 29
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As Dawg said, the lender holds that answer. I would however stress caution, with floating two mortgages simultaneously....that can rapidly turn into a financial disaster with the slightest miscalculation or market shift. I am of the very strong opinion that this market is more about spin than anything else. As the Fed slows the billions being pumped in, things will shift again - be careful
  • March 29
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Profile picture for wetdawgs
If you are wishing to obtain a mortgage for the new-to-you home, the answer will depend on your financial specifics.  You may wish to phone a lender and review the specifics.

  • March 28
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