We see this happen all the time! A seller puts their home on the market, negotiates an offer, opens escrow, and then begins their search for the next home to buy. But what if they don’t qualify for their next home? Here’s how that can easily happen. If the sellers bought their current home 15 years ago for $225,000, and today they’re selling it for $650,000…it stands to reason that they would qualify to buy another home for the same price or slightly higher, right? Not so fast.
What if they had two incomes back then, and their credit was flawless?
But as they had kids, mom quit her job to stay at home, and over the last 5 years, their credit has suffered for various reasons. The truth is, sometimes people may not even qualify to buy their own home again, much less a more expensive one. That’s why we always recommend that sellers talk to a loan officer to ensure that their plans are attainable.
It simply makes too much sense to find out now versus after the sale of your current home. We’ll point you in the right direction and put you in touch with one of our many lenders so that you can have peace of mind knowing that your goals can easily be met. Call and let’s get started!
Share this on social media:
We see this happen all the time! A seller puts their home on the market, negotiates an offer, opens escrow, and then begins their search for the next home to buy. But what if they don’t qualify for their next home? Here’s how that can easily happen. If the sellers bought their current home 15 years ago for $225,000, and today they’re selling it for $650,000…it stands to reason that they would qualify to buy another home for the same price or slightly higher, right? Not so fast.
What if they had two incomes back then, and their credit was flawless?
But as they had kids, mom quit her job to stay at home, and over the last 5 years, their credit has suffered for various reasons. The truth is, sometimes people may not even qualify to buy their own home again, much less a more expensive one. That’s why we always recommend that sellers talk to a loan officer to ensure that their plans are attainable.
It simply makes too much sense to find out now versus after the sale of your current home. We’ll point you in the right direction and put you in touch with one of our many lenders so that you can have peace of mind knowing that your goals can easily be met. Call and let’s get started!
