We are using the sell of our current home as down payment for the next, but don't want to miss out on a home that is for sale now. I really want it. I don't want to wait to sell this one. Are there any other options?
2007-09-20 08:10:05 · 5 answers · asked by Foxy 2 in Business & Finance ➔ Renting & Real Estate
A bridge loan. Be careful, though. In the current market that is very risky. If you can't sell in time, you'll have 2 monkeys on your back.
2007-09-20 08:14:33 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 2⤋
Unless you have money saved that you can use as down payment and you qualify with both house payments. Or can you turn your primary residence into a rental. Is down payment the issue? With the market as it is now, it is hard if not impossible to get 100% financing unless you're a veteran. Good luck!
2007-09-20 08:21:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
unless you have a separate down payment and can handle both payments until it sells think you might have to wait
2007-09-20 08:14:31 · answer #3 · answered by Anonymous · 0⤊ 3⤋
yea, it is called contingent sale.
2007-09-20 08:17:55 · answer #4 · answered by ron197192064 4 · 0⤊ 1⤋
if you are rich no problems
2007-09-20 08:17:27 · answer #5 · answered by Anonymous · 0⤊ 1⤋