How do you plan to buy the new home (cash or financing)?
If cash this is simple. You simply purchase the new home with cash and can list the other property for rent. We can help you with both of these transactions.
If you plan to finance the new home you will need to get preapproved by a loan officer. They can often times use your expected rental rate for the old home to help lower your DTI (Debt To Income) ratio. Once you have your financing in place you can submit offers on new homes. Then you can list the old home for rent. Once you get preapproved we can help you with both of these transanctions as well. If you do not have a loan officer that you work with please feel free to email me directly and I can forward you the contact info of the lenders we work with.
Please let me know if there is anything else I can assist you with.
The Adams Team at
Rothwell Gornt Companies