Derek McGowan explains how to buy a new home before selling your current one using an instant HELOC to tap your home's equity. The strategy removes contingencies from your offer and can help you secure better loan terms.
If you've got equity in your home and you're looking to make a move into a new home, we've got just the program for you. So in today's busy housing market, if you're able to make an offer on a new home and be non contingent, meaning you don't have to wait around to sell your current home before you can close on the new home, nine times out of 10 sellers are going to jump on that offer compared to the contingent offer because there's less strings attached. They don't wait for outside factors to go through before the closing takes place. It's a much safer offer to take. However, if you really do need to sell your home, here's what we do. We have an instant heloc. Within a week, we pull the equity out of your current home. Now you have your down payment to go close on your new home and you can turn around and then list and sell your current home, but you're not contingent. Also helped other people that need to freshen up on the credit score a little bit by doing the instant HELOC or cash out refinance. Then we do a credit blueprint to show you exactly what accounts to pay down to best help your credit score. Pay that down. Get your credit score where it needs to be before you go find your new home. Then you get the best loan terms, the best approval amount, you've got equity and you're looking for a new home. Reach out today. We'll help you take advantage of.
