MORTGAGE ANSWERS
Buying While Keeping Your Current Home
Keeping a home as a rental or for family use can affect qualification for the next purchase.
What to know.
A lender may review both housing payments, available reserves and any eligible rent under program-specific documentation rules. The intended occupancy of both properties matters. Avoid assuming future rent will automatically offset a payment.
Talk through your own numbers.
Tell John who will occupy each home and share the current payment, rent plan and timeline.
TALK THROUGH YOUR SCENARIO
Start with a conversation.
Tell John what you want to accomplish. He’ll help you sort through the options and next steps.