Can You Afford Two Mortgages?
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Whether or not you have an affordable mortgage, you probably can’t afford to make monthly payments on two different homes. Unfortunately, there are several reasons why you could find yourself in a double-mortgage predicament. It happens when you find the home of your dreams but you haven’t yet sold your old residence. It can also occur when your job relocates you and you must buy a home in your new city.
These situations are usually temporary, but that’s not the point. If you’re like most people, even if you qualify for an affordable mortgage, you just don’t have the financial resources to double up each month. If you can afford it, you’d probably prefer to put the extra money into a college fund or retirement savings plan. At Next Level Home buyers, we help you avoid the double mortgage dilemma. We buy your home fast so you can move on with your life.
When you can’t sell your old home
You can avoid double mortgages by waiting until you sell your current home before looking for a new one. But nobody wants to do that. The decision to sell your old home and buy a new one is the beginning of an exhilarating adventure. Searching for a dream home is the most exciting part of the process so you don’t want to delay it.
When you find the perfect home, you want to seal the deal before you lose it to another buyer. If you qualify for an affordable mortgage you must close before market fluctuations cause your great interest rate to rise. In the wake of all this home-buying excitement, wishful thinking can make selling your old home seem like a formality. Except, sometimes it isn’t.
It takes a lot of time and effort to prepare your home for the real estate market.
- Repairs and upgrades
- Cleaning from top to bottom.
- Perfect staging inside
- Buyer-attracting curb appeal outside
Once your home is on the market, your real estate agent can’t predict if and when it will sell. If you’ve signed a deal on a new home, your old home and its affordable mortgage can become a big financial burden. It can even become an obstacle to mortgage approval for your new home.
A promotion can be life-changing, especially when it comes with a transfer to a new city. Your career success can become a problem if you can’t sell your home before you go.
When you accept a job in another city, the relocation clock starts ticking. You often have a narrow window during which you must pack up and move. There isn’t usually enough time to list and sell your home before you leave town. You must head for your new city and choose a new residential option when you get there.
- Live in a residence hotel in your new city until you sell your home
- Take a short term lease on an apartment in your new location
- Buy a new home and pay two mortgages until your old home sells
However you decide to live in your new city, you’ll be financially responsible for two residences until you sell your home. Often, you must leave your family behind to sort out the details.
We have a better idea
At Next Level Home Buyers, we have a better solution. When you contact us, we make a Fast & Fair offer to buy your home. After that, it’s up to you. If you agree, you simply pack up and get ready to move to your new location.
We buy your home as-is, which means no repairs or upgrades and no need for curb appeal. You can relocate to your new home and commit to one affordable mortgage instead of two. Best of all, we close in as few as 7 days.
Contact Next Level Home Buyers
To find out more about our Fast & Fair home buying process, call us at 860-368-0343 or complete our online contact form.
WE BUY HOUSES IN ANY SITUATION:
Behind on Payments
- Death of a loved one
- Liquidating assets
- Inherited property
- Job loss
- Bad mortgage
- Medical Bills
- Extensive repairs
Need To Sell Your Home Fast? Expensive Holding Costs?
Learn More About Our Fair & Fast Cash Buyout
At Next Level Home Buyers, we buy homes regardless of the condition. If you can’t wait months to sell your home and you don’t want pay a huge real estate commission, complete the information form below or call us at 860-368-0343.