🏡 Want to Buy a New Home but Already Own One? You’re not alone—and yes, you do have options. 🙌

🏡 Want to Buy a New Home but Already Own One?
You’re not alone—and yes, you do have options. 🙌

Let’s talk strategy…
You’ve got a crazy low mortgage rate (thanks, 2020-2021!)—but your current home doesn’t quite fit anymore. Maybe it’s too small, you want to be closer to family, or you’re eyeing that dream backyard with mountain views. So… how do you buy up without giving up your golden rate?

Here are a few creative paths forward:

🔁 Rent Your Current Home & Buy the Next
Turn your current home into a rental (hello, cash flow!) and use that income to help qualify for the next place. You keep the low rate and start building your real estate portfolio.

🪜 Buy Before You Sell (Yes, it’s possible!)
With the right financial tools (think bridge loans or HELOCs), you may be able to buy your next home before selling the current one. Less stress, more flexibility.

📦 Sell First—with a Contingency to Find the Next One
You can sell your home contingent on finding your next one—meaning you don’t have to move until you’ve locked in your future dream home.

🏘️ Sell First, Then Buy—with a Game Plan
If you need your equity for the next down payment, you can still time it right to avoid double moves. Temporary housing or lease-back options can help you stay put while closing on the new home.

💡 Feeling Trapped by Your Low Rate?
Here’s the truth: your mortgage rate matters—but so does your lifestyle, your space, and your goals. With the right strategy, you don’t have to choose between smart finances and a better fit.

📝 Bonus Strategy: Use Seller Financing—Like a Wraparound Mortgage

If you’re sitting on a low-interest mortgage, you might have one more powerful tool in your move-up toolkit: seller financing—specifically, a wraparound mortgage (or “wrap”).

🔄 What’s a Wraparound Mortgage?
A wrap allows you to “wrap” your existing mortgage into a new loan that the buyer pays you directly. You keep your current mortgage in place, and the buyer pays a higher interest rate—giving you monthly income and often a tidy profit.

💡 Why It Works:

• You don’t pay off your current mortgage.

• The buyer pays you directly (or most likely through an Escrow company) —at a rate that works for them and you.

• You can often sell at a premium price because you’re offering terms banks won’t.

🧠 Example:

Let’s say your mortgage is at 2.75%, but market rates are 6.5%. You could sell your home with financing at 5.5%—still a deal for the buyer, and profit for you.

This strategy is especially effective if:
✔️ You own a desirable property
✔️ The buyer is strong but wants easier financing
✔️ You want to create monthly income (think: early retirement vibes!)

⚠️ Pro Tip: Work with a knowledgeable real estate agent (👋) and title company to structure this correctly and protect your interests.

📲 DM me or comment below if you want a custom game plan for buying your next home—without giving up what you’ve worked so hard to build.

👉 Bringing you getaway living, Utah style.
#StoneflyRealEstate #BuyBeforeYouSell #LowRateStrategy #MoveUpWithoutStress #RealEstateTips #UtahLiving #CreativeHomeBuying