ERIC HAMILTONMORTGAGES REIMAGINEDStart my application

PLAN YOUR NEXT MOVE

Can I buy before I sell?

See the cash you need, the payments while you own both homes and what is left after you sell.

STEP 1 OF 3

Start with what you have.

Your home has value. Your cash has a job. Let’s keep both in view.

These starting numbers are examples. Change them to fit your situation. No email needed. Your numbers stay in this browser unless you choose to share them below.

FIRST TIME SELLING? START HERE.

One move. Three money moments.

Buying before you sell means paying for the next home before the sale money arrives. This planner helps you see the cash needed, the cost of owning both homes and what remains after the sale. A lender must separately review whether financing is available to you.

01

Buy the next home

You need the down payment and purchase costs now. Use cash already available and only temporary financing that has been separately confirmed. Future sale proceeds are not available yet.

02

Carry both homes

Count both mortgages, property costs and any added loan payment. The illustration takes all of these costs from cash and adds no income. Test what happens if selling takes longer.

03

Sell the old home

Subtract selling costs and loan payoffs before deciding what to do with the remaining money. Keep your cash cushion in view. An eligible recast is a separate step after an extra principal payment.

The words, in plain English

Bridge loan
Temporary borrowing for the move. This tool models a second loan against the current home, monthly interest and payoff when that home sells. Actual products and deadlines differ.
HELOC, or home equity line
A credit line secured by your home. Payments can change with the rate and repayment terms. This tool assumes the line is paid off when the old home sells. CFPB guide to HELOCs.
Recast
A servicer recalculates an eligible mortgage payment after a large principal payment, using the existing rate and remaining term. It does not supply the money needed to buy first. Confirm availability and timing with the servicer. Fannie Mae recast guidance for applicable loans.
Cash cushion
The money you want to keep available throughout the move. A plan can finish with cash after selling and still run short before that sale.

Choose the question you need to answer

Questions before you rely on the numbers

Does a result mean I can qualify for two homes?

No. This tool checks the entered cash assumptions. It does not review income, credit, documents, the property or program requirements. Do not assume listing the current home removes its payment from the lender’s review. Fannie Mae explains requirements for applicable loans; other programs and lender conditions can differ.

Which choice is best for me?

There is no automatic winner. Compare the cash needed before selling, the highest overlap payment, loan costs, cash remaining and the fallback if the sale is late. Selling first may reduce overlap but can add temporary housing and another move. Enter that budget too.

What should I check before using a recast?

Ask the servicer about eligible loans, the minimum principal payment, fees, waiting periods and when the new payment starts. The move comparison assumes it takes effect after the modeled sale. Keep enough cash for the actual payment until the servicer confirms a change. Paying off the entire mortgage is different from a recast; property costs continue.

What might be missing from my illustration?

Check taxes, insurance, association dues, mortgage insurance, other liens and actual selling costs. The detailed planner estimates the current first mortgage payment from its balance, rate and remaining term. That may differ from your statement after past extra payments or a loan change. Ask for a personal review if it differs. A sale contingency, rent back or keeping the old property as a rental needs separate real estate, lending and, where appropriate, legal advice.

This explains the calculator’s assumptions. It is not a quote, an approval, a guarantee that a loan is available or a recommendation to waive contract protections. Zero in an insurance field does not prove coverage or mortgage insurance is unnecessary.

Plan the move before you list.

Bring the question you cannot yet answer. You do not need a complete application to start a conversation.

Book a Discovery Call

YOUR NEXT STEP

See the example. Make a plan for you.

Which numbers fit your life? Eric can help you look at the payment, the cash you keep and what could change next.

  1. 1Explore an example
  2. 2Choose what to share
  3. 3Plan a Discovery Call
Get my personal comparison

A conversation about your numbers.

Send Eric a request to help arrange a Discovery Call. No application is needed. Your calculator remains free to use.

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Prefer to choose a time? Book a Discovery Call. You can also call Eric at 630 728 7918.