Home to Home Loan January 30, 2016
So you have found the home you want to buy, but you haven’t even placed your existing home on the market.
To top it off, the Real Estate Agent is saying, “Don’t bother putting an offer in subject to the sale of your existing house”. What can you do? Consider a home to home loan!!
If you have a sufficient amount of equity in your existing home the lender may fund the purchase of the new home, prior to you selling your existing home.
But hold onto your horses, this loan doesn’t possess magical properties, and there is no denying you would be carrying considerable amount of debt, whilst you sell your existing property.
There are two ways the lender will assist you in making the repayments ie. the lender will allow the interest to accumulate to the loan or the lender will advance you additional monies to help with the repayments.
The lender will allow you up to 12 months to sell your existing house. If this option is for you, we think you will be pleasantly surprised with the interest rates.
Please consult your Accountant and/or Financial Planner before applying for a home to home loan.
Better Choice Mortgage Services is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within this website. While the information contained within this website is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. Although the Better Choice Mortgage Services website may include links providing direct access to other internet resources, including websites, Better Choice Mortgage Services is not responsible for the accuracy or content of information contained in these websites. Links from Better Choice Mortgage Services to third-party sites do not constitute an endorsement by Better Choice Mortgage Services of the parties or their products and services. The appearance on the website of advertisements and product or service information does not constitute an endorsement by Better Choice Mortgage Services, and Better Choice Mortgage Services has not investigated the claims made by any advertiser. Product information is based solely on material received from suppliers. Advanced Finance (Pty) Ltd t/a Better Choice Mortgage Services are not financial planners or accountants and we would encourage our clients to seek professional advice before acting on any a financial or taxation information in this news post.