Buying Your Next Home
Making the Right Move
Buying your next home is exciting, but it often comes with tougher decisions than the first time around. Should you sell your current home or keep it as a rental? How do you use your equity for a down payment without putting your budget under too much stress? These are the questions I help move-up buyers answer every day.
Options for Move-Up Buyers
- Sell and Move – Free up cash for your next down payment and keep things simple.
- Keep as a Rental – Turn your current home into an investment property for long-term wealth.
- Vacation or Second Home – Explore financing for a cabin, condo, or getaway spot in Utah.
How Financing Works
- Cash-Out Refinance – Use your current home’s value for your next down payment.
- Home Equity Line of Credit (HELOC) – Flexible funds while you prepare to buy.
- Bridge Loan – Short-term financing to buy before you sell.
Each option has pros and cons, and I help you choose the one that fits both your short-term needs and long-term financial goals.
Why This Matters
I’ve seen too many buyers stretch themselves too thin or miss opportunities because they didn’t know their options. With the right structure, you can move into your new home confidently, while making sure your overall financial plan stays strong.
Buying Your Next Home FAQs
It depends on your goals. Selling frees up cash for your next down payment. Renting it out lets you build long-term wealth with rental income. I help you compare both options so you can choose the path that fits your financial plan.
You can tap into your equity using a cash-out refinance, home equity line of credit (HELOC), or a bridge loan. Each option has different costs and timelines, and I’ll help you understand which one best supports your financial and housing goals.
Yes. Many lenders allow buyers to qualify for a new mortgage while keeping their existing one. You’ll need to meet income, debt, and reserve requirements. I walk you through those details so you know what to expect before making an offer.
You may face challenges like carrying two mortgage payments, managing maintenance, and covering expenses during vacancy periods. Proper planning, reserves, and smart financing can help protect your stability while turning your home into an investment.
Yes. Vacation homes and second properties—like cabins or condos—are financed differently, often requiring higher down payments and stricter underwriting. I guide you through these requirements so you’re not caught off guard.
Taking on a second mortgage involves higher expenses and stricter evaluation. Lenders will review your debt-to-income ratio, reserves, and financial stability. We plan together so you’re prepared and avoid surprises.