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Move-Up Buyer Success Story

We recently helped a pair of well-qualified homebuyers purchase their next home before selling their current residence. With strong W-2 income, excellent credit, and substantial assets, they were in a great financial position, but carrying two mortgage payments at once could have limited their buying power.

Using a strategic financing approach, we were able to qualify them based solely on the mortgage payment for the new home. Because they had sufficient reserves remaining after their down payment, the mortgage payment on their departing residence did not need to be included in the debt-to-income calculation.

This allowed the borrowers to purchase their new home without making the offer contingent on the sale of their existing property. Once the previous home sold, the proceeds were applied to the new mortgage through a loan recast, reducing the loan balance and lowering the monthly payment while keeping the same interest rate.

Property Details

Price: $925,000

City: Simi Valley

State: CA

Zip Code: 93065