Home Buying in Duncanville>Question Details

Jaxson1, Both Buyer and Seller in Dallas, TX

I am currently paying on a mortgage at my home but my family has outgrown our current home.

Asked by Jaxson1, Dallas, TX Wed Jan 9, 2013

Really trying to get advice since i have a current mortgage and now need to get a larger home will this be difficult.

Help the community by answering this question:

Answers

5
Veronica Taylor’s answer
Hey Jaxson, every realtor who has responded to your inquiry, has suggested you contact a mortgage professional. Well, I agree - and guess what? I AM a mortgage professional!! It would be my privilege to answer all your unanswered questions regarding your mortgage financing options! 214.914.1936
0 votes Thank Flag Link Thu Jan 2, 2014
he asked this a YEAR ago!
Flag Thu Jan 2, 2014
Jaxson1, It will depend on the type of loan you currently have (FHA or Conventional), the type of loan you will be applying for, the equity position on your current home and finally you will still have to income qualify for a new mortgage. All of that said, I am a Realtor who has lived in the Duncanville area for more than 30 years. As a former Mortgage Loan Officer, I would love to help you navigate through the process of buying a new home. Please feel free to call me at your convenience. My cell number is 972-467-3415.

Thanks!
1 vote Thank Flag Link Thu Jan 17, 2013
Depends on number of factors such as balance owed on your current property, the market value of your current property, price you can pay for the next house. These represent a few concerns, however there are a lot of discounted properties in the market place that may be less expensive than your current property. Again more details would be needed and difficulty depends on your circumstances, but finding you a larger home would not be difficult
0 votes Thank Flag Link Wed Jan 9, 2013
Jaxon, I am a Realtor for Southern Dallas County and my best advice to you is to visit with a mortgage professional to see if you can qualify to purchase a home while still owing on your current mortgage. If you cannot and the lender states you will qualify for a loan once you sell, then that would be your only option is to place your current home on the market. You could be looking at other homes in the interim. If you found something you liked you could make the homeowner an offer and have it hinge on the sale of your home (once yours sold you could purchase the new one). It is an easy process.
But make sure with your lender that you are credit worthy enough to qualify for a new loan when your current home has sold.
If you would like a free analysis of what your current home is worth, give me a call at 972-841-9611. I can list your home when the time is right and help you find a new one.
0 votes Thank Flag Link Wed Jan 9, 2013
Hello Jaxson,
Do you plan on keeping your current home or selling it? I suggest that you contact a mortgage lender as they can best answer if you qualify to purchase another home.

Best wishes!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Wed Jan 9, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer