Buying A Home And Selling A Home At The Same Time » Mortgage Masters Group

Buying and selling a home at the same time can be more complex and challenging than doing just one transaction, but with the proper planning it can be successful. Understanding the steps and being proactive can make the transition much easier. The first step is finding a qualified, experienced real estate agent.

Sell first, then buy. But you will pay about 6 to 7 percent of the sale price for all the fees associated with selling a home, including real estate agent and marketing fees, transfer tax, and title fees.

Mortgage Programs for Buying a Home. Since you are about to buy a home, you might be looking into all the loans that you need to get to get your home. Here is a list of some standard home loan options. FHA Loans. These loans offer low down payments and lenient credit requirements. VA Mortgages

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Mortgage Tips: 50 Year Mortgages, Are They Better than a Interest Only Loan? An interest-only mortgage gives you cheaper monthly payments on your home loan but you are not actually paying back any debt. At the end of the mortgage term you will still owe your lender the.

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If you wish to pay the home off fast, assuming the existing mortgage can be a good idea assuming the rest of the finances make sense. If you do not assume the loan, however, you still can get the loan paid off faster, even if you take out a 30-year term.

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A simultaneous settlement is where the settlement for the sale of your old home and the purchase of your new home happens at the same time. This is notoriously difficult to orchestrate! However, when it works you don’t have to pay rent on a property whilst waiting to buy and you don’t have to pay a mortgage on two properties at the same time.

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I am looking at possibly buying 2 properties at the same time. First, I’m going the FHA route and purchasing a duplex to live in and rent out the other side and putting it in my name. Second, my realtor just brought me a really good deal this morning for a fix and flip property.

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