Found 2 blog entries tagged as mortgage loan.


When you are ready to buy your next home there are several ways of doing this without selling your current home first. Let’s review your options.

Qualify For 2 Mortgage Payments

It is possible to obtain a mortgage on a new property prior to selling your current home as long as you can qualify for both mortgage payments. This will allow you to buy and possibly move into your new home prior to putting your current home on the market. Many of our clients take this option and we are able to stage the home we are selling so it doesn’t look empty.

Buy Contingent On The Sale Of Your Current Home

It may be possible to get an offer accepted on a new home and have that offer be contingent on selling your current home. Our success in getting…

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Because the real estate market has become so competitive many buyers are waiving the right to terminate the contract based on the lender’s appraisal. The appraisal is typically done after the buyer’s termination period has ended. If you are waiving your appraisal contingency you will not be able to terminate the contract and receive a refund of your earnest money if the home appraises for less than the sales price. If you are waiving this contingency here is an explanation of how that might affect the amount of money you will need for a down payment.

Please let us know if you have any questions before making an offer on any property.

Example

Contract price $400,000

Appraised value $380,000

If the home appraised value was…

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