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buying a new home
Moderators: Mortgage-X

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   Types of Loan Programs-> Types of Loan Programs ~ General QuestionsMessage format
Posted 2/7/2005 11:04 PM (#48)
Subject: buying a new home
we have moved to dallas. our home in san antonio has not sold yet. we were counting on the proceeds as our down payment. there is lots to choose from here so we are anxious to get into a house ...... but the market is slow in s.a. any options?
Posted 2/10/2005 4:14 PM (#51 - in reply to #48)
Subject: RE: buying a new home
There is another option. If you can rent out your current home, that is get someone to sign a lease(usually at least a 1 year lease), then you can use this income to help negate the current mortgage and get you qualified for a new home loan. You would be lacking the down payment you were hoping to get, however there are multiple no down payment options when it comes to buying a home, many without any PMI.

John Jobes
Envision Lending Group
Mortgage Man
Posted 2/17/2005 2:48 PM (#65 - in reply to #48)
Subject: RE: buying a new home
As far as putting money down theres plenty of 0 down programs available out there. Thats pretty much all we do here is 100% purchases. If you have any questions please feel free to contact me.

Kyle Farmer
Gemstar Mortgage
Posted 1/4/2006 5:37 PM (#662 - in reply to #65)
Subject: RE: buying a new home
The market here in DC is also is slowing down.
You might want to challenge your agent and ask him how/where he is marketing your house.
There are many agents out there that don't necessarily know how to deal with a tighter market and have ridden the boom wave.
A good way to find the best agent is to call the big companies, talk to their manager, and ask him who is the best for your area.
A relocation company is also a good idea-the customers are more eager to buyer.
Also vis-a-vis mortgage otions you cna also do bridge loans or rent out your house in S.A.

Jeremy Lodeon
Long & Foster Real Estate Inc.
202 288 6553
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