Should American Dream still be owning a home? – Kershisnik attributes that to nervous sellers who are unwilling to assume more debt in a “move-up” home or worry they may not qualify for a new mortgage under tighter lending standards. And although.
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How To Solve The Move-Up Home Financing Dilemma – Bank offers a specialized equity loan. The loan is paid in full when the home is sold. The borrower agrees to sell within 12 months. "Because these are portfolio loans, we don’t generally have to follow Fannie Mae or Freddie Mac guidelines," says Jay Richardson, a senior loan officer with MVB Mortgage in Fairfax, Virginia.
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How to bridge’ a replacement home | Peter Boutell, Lending a Hand – This involves using the equity in their present home to buy their move-up. mortgage on their new home, the borrowers are likely to qualify for the bridge loan. A bridge loan may be the best.
How to Trade Up Houses – Budgeting Money – Sell Your House First. You can also rent a home until you buy a new home. If you think this will be a long period of time based on your understanding of the market in the area where you are looking to buy, you can skip the previous step and take a long-term rental using your own furniture. However, in most cases,
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