I My husband owns a home and I will be a new homebuyer. Should we sell our home to help with the purchase of another home or rent?

Asked by Almitra Johnson, Philadelphia, PA Thu Jul 25, 2013

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6
Dirk Parker, Agent, Philadelphia, PA
Sat Jul 27, 2013
It actually depends on the desired outcome both in purchasing your new home and leveraging your current home. It is usually easier to find you new home than to sell your current home for a few reasons. I just completed a purchase with a family that are now selling. I also have another client selling first then purchasing. It depends on your goal both long and short term. I have a blog that gives good info. On both buying and selling. I would be glad to answer any questions for you and your family on this important matter for you both.
Dirk

Dirk Parker M.ED, Realtor, ePro
Prudential Fox and Roach Jenkintown
http://Www.dirktherealtor.com (blog)
http://Www.dirkparker.prufoxroach.com (web)
215-908-9390
"Helping individuals and families realize their Real Estate goals, one house at a time"
0 votes
Philip J. Cu…, Agent, Feasterville, PA
Sat Jul 27, 2013
Please call me since I have some questions for you. To protect you and your information I need to speak to you in person. The State of PA requires that you are made aware of the Consumer Notice This is a law not some BS tot you to call you should always be read the oral disclosure when discussing real estate Please Call me at 215-725-5700 X49

Philip J. Cunningham Sr.
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia, PA 19152
215-725-5700X49 cell 267-934-1971
philcunningham2004@yahoo.com
Web Reference:  http://www.GreatPaRE.com
0 votes
Paul Carson, Mortgage Broker Or Lender, Conshohocken, PA
Thu Jul 25, 2013
You MAY be able to qualify for a new home and keep the current one as a rental. I would be more than happy to discuss the particulars with you.
0 votes
Jennifer Ged…, Agent, Philadelphia, PA
Thu Jul 25, 2013
Almitra,
Congrats on beginning your new home search. There would be many factors to consider when making this decision that would depend on your specific finances as well as short and long term goals. I would be happy to discuss your search with you, as well as the potential value for selling or renting your current property, and help to point out factors to consider.
Please send me a private message and we can discuss further.
Thanks,
Jennifer

Jennifer L. Geddes, MBA
Tri-County Realty
Jennphilarealtor@gmail.com
0 votes
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Thu Jul 25, 2013
Not sure what you mean. So you and your husband are purchasing together? You would know better than anyone if you need to sell. Do you need the proceed of the sale to use as downpayment for the new purchase? Do you qualify for a new purchase and the current mortgage payment (assuming you have one) and obligations of the current home your husband owns? Are you both going on the new loan? There is just way too much information needed in order to advice you.

Consider speaking with a Loan Officer and like Tony said below, we would new a full picture on your finances and aspects of your situation.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
0 votes
Tony Grech, Mortgage Broker Or Lender, Southfield, MI
Thu Jul 25, 2013
If you keep the current home then you will likely have to qualify with both house payments. So this may affect the amount of loan you can qualify for on the new home.

You should speak directly to a lender. We can lay out your options for you better if we have a full picture of your finances.

Please call me or email me and I can assist you with things.
Tony

Tony Grech

Loan Officer -NMLS #977416

WCS Lending, LLC
Tony.Grech@WCSLending.com
Toll Free: 866.936.5363 ext. 278
0 votes
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