- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Buying a new home but still have to sell current house
Posted on 4/3/18 at 4:49 pm to LSUvegasbombed
Posted on 4/3/18 at 4:49 pm to LSUvegasbombed
I have no experience with this but just spit balling, possible to get an equity line on your current house for 20% down on new house, then sell old house?
2
Posted on 4/3/18 at 4:56 pm to Tiguar
quote:
Do I start with a bank?
I thought that would help having no debt on the current house
Yes start with a bank. My wife works in mortgage so I always skip that step in my mind.
I would go get pre-approved for your loan and having no debt on the house will help with your DTI when they are assessing how much of a loan they will give you.
Tiguar's idea may work as well. I am not that financially savvy to tell you whether or not banks will do that.
Good luck!
Posted on 4/3/18 at 5:33 pm to Tiguar
quote:What's the limitation in Louisiana. In Texas, you can only borrow up to 80% of the value of the home.
I have no experience with this but just spit balling, possible to get an equity line on your current house for 20% down on new house, then sell old house?
Say, it's valued at $500k. You can borrow up to $400k, less what's owed on it, so if someone owes $300k, they can only borrow $100k against the home, even though they have $200k in equity.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News