Free tool · Moving up
Selling one home and buying the next is a timing problem. See what your equity could do, and what each way of bridging the gap would cost you: selling first, a bridge loan, or a contingent offer.
Estimated equity after selling costs
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new home, estimated per month
Strongest offer and no overlap, but you move twice. Some buyers will agree to a short rent-back so you can stay after closing.
Assumes a $400,000 price, 31.56% down, 30-year fixed rate at 7.24% (APR 7.24%). Includes taxes and insurance; mortgage insurance not included. APR assumed equal to the rate; actual APR will be higher with lender fees. Estimate only. Not a loan offer or commitment.
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per month while you own both
One move and no rush, but you carry two homes until the first one sells. The bridge figures are assumptions, not a quote.
Assumes a $400,000 price, 22.5% down, 30-year fixed rate at 7.24% (APR 7.24%). Includes taxes and insurance; mortgage insurance not included. APR assumed equal to the rate; actual APR will be higher with lender fees. Estimate only. Not a loan offer or commitment.
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new home, estimated per month
Your purchase depends on your home selling, so there is no overlap and no bridge loan. Sellers often prefer offers without that condition, so in a busy market a contingent offer may need a higher price or may lose to another buyer. Ask your agent how contingent offers are faring in that neighborhood.
Assumes a $400,000 price, 31.56% down, 30-year fixed rate at 7.24% (APR 7.24%). Includes taxes and insurance; mortgage insurance not included. APR assumed equal to the rate; actual APR will be higher with lender fees. Estimate only. Not a loan offer or commitment.