Part 2: How to Buy a Home Without a Sale Contingency – Down Payment

Over 60% of homebuyers in the United States are repeat buyers.  This means they often have a home to sell concurrently with buying a home.  In today’s competitive housing market it can be a challenge to get an offer accepted when it includes a home sale contingency.

Therefore, it’s always worth trying to see if and how a homebuyer can be pre-approved for their home loan without the requirement of a home sale contingency.

There are two common hurdles that an applicant faces when trying to get pre-approved in this manner.

The second hurdle (HERE IS A LINK to the first hurdle) is cash flow.  Without the existing home sold the underwriter will require that the applicant be approved with both mortgage payments.  I cover that topic in the video below:

If you are seeking to get pre-approved to buy another home and would like to avoid a home sale contingency please reach out to us today!