How Can You Buy Before Selling Your Current North Texas Home?
You’ve found the house you want. There’s just one problem. You still own the house you’re living in. For a lot of North Texas homeowners, this is one of the biggest obstacles to making a move. You may have plenty of equity in your current home, but that equity isn’t sitting in your checking account. And you may not want to sell your house, move twice, rent temporarily, or hope the right home happens to be available after your sale closes. The good news is that selling first isn’t always your only option. Depending on your income, equity, existing mortgage, available assets and the loan program you’re using, there may be several ways to purchase your next home before your current home sells. I’m Gary Bourgeois, a mortgage advisor, Texas real estate agent and retired Army veteran here in North Texas. One of the things I tell clients is that the order in which you buy and sell matters. Before you put a sign in the yard, it’s worth finding out what your options actually are. Can You B...