Is it possible to get qualified for a home loan for a new home when you are currently putting yours on the market to sell or rent?
Asked by Amber, NC moving to VA
Mon Mar 22, 2010
We own a home in Virginia Beach, but would like to move back to North Carolina (military). Since the home is under a VA loan, we are undecided on if we should rent it out and purchase another or try to sell it off. I realize the ideal is normall to sell, then buy, but in this market with a high number of renters, would we still be able to qualify with a lease agreement and our income. The housing market in NC is substantially less expensive than here, but we are unsure of when to try to get prequalified. Many thanks in advance.