Zillow Advice: Approval Process - How to move into another house without selling your current one. http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ Zillow Advice | Zillow Real Estate Although the current mortgage ... http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ Although the current mortgage market is tighter than before, if you can make the twenty five percent equity. You can get into an FHA loan on your new home with 3.5% down and be able to use the rental income to help you qualify. <br/><br/>Good luck in your venture.<br/><br/>Greg Migacz Thu, 30 Sep 2010 23:44:00 GMT http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ 2010-09-30T23:44:00Z Unfortunately the mortgage ... http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ <p>Unfortunately the mortgage market has become very restrictive.&nbsp; In order to use rental income of a current primary residence you must have at least 30% in equity.<br/>Absent of that the only way to qualify for a new mortgage is to either show that you can qualify for your new mortgage as well as your current one or to get someone to co-sign with you so you can qualify for both mortgages at the same time.<br/>I'm sure this isn't a pretty answer but it is where we are in today's mortgage world,</p> Mon, 20 Sep 2010 17:38:00 GMT http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ 2010-09-20T17:38:00Z I agree with Wayne that you ... http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ I agree with Wayne that you should contact a local agent that can help you to sell your current home.&nbsp; If you are&nbsp;like many sellers, your goal of renting it was probably to hold off on selling it until the market recovers possibly?&nbsp; Well not only could this take quite a while, but when "buying up" given today's deals, you'll usually make up any lost depreciation from the home you sold through buying a home that is larger and has more upside when the market does recover.&nbsp; Best of luck! Wed, 01 Sep 2010 17:04:00 GMT http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ 2010-09-01T17:04:00Z If your income to debt is ... http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ If your income to debt is sufficient to qualify for current and new mortgage payment, there is not a requirement that you have a lease on current property. Most can not qualify to carry both mortgages and don't&nbsp;have sufficient down payment without selling/closing on current home.<br/>Get a referral to a local loan officer and discuss options....even if you qualify there is a huge risk to own two properties with mortgage payments, utilities, maintenance and repairs cost outgoing monthly for a unspecified period of time. My advice is to sell your current home before you purchase another one.&nbsp; Your Realtor can advise you on how not to be "homeless".... Wed, 25 Aug 2010 01:06:00 GMT http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ 2010-08-25T01:06:00Z The mortgage market has become ... http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ The mortgage market has become very tight. Lenders have gone from the one extreme of...'all you need to get a mortgage is a pulse'......to now they want a DNA sample and the rights to your 1st born and then <strong><em>maybe</em></strong> they will give you a loan.<br/>My web site has a few references. They also do FHA which might be an option. Try to avoid the big banks like Chase, Wells, BOA etc because those are the worst. Try local banks who might not&nbsp;be that rigid.<br/><br/>philip Wed, 25 Aug 2010 00:50:00 GMT http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ 2010-08-25T00:50:00Z You need 30% equity to count ... http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ You need 30% equity to count 75% of rental income into your qualifying income. Without defaulting, IMHO,&nbsp; the only other way to move into a larger home is to rent. Then,&nbsp;rent your current home. .... Best wishes, Rudi Wed, 25 Aug 2010 00:12:00 GMT http://www.zillow.com/advice-thread/How-to-move-into-another-house-without-selling-your-current-one/363613/ 2010-08-25T00:12:00Z