Congratulations to Daniel and Christine for being so smart! This incredible couple purchased their first home with me just 20 months ago and now they’ve opportunistically purchased their second home, turning their first into a rental. “HOW?!” you might ask. Well, aside from moving it’s actually not hard. Did you know you can use the equity in your current home (likely over $100k if you’ve had it more than 18 months) to buy your next home and keep your current one as an investment property? Without qualifying to carry both mortgages. Yep, you read that right. You just need to be able to qualify for your new home and move into it. Low 5% down payment, same mortgage product and interest rates as everyone else (yes, they’re a tick higher right now, but you can refi when they drop again), and rents on your investment property that at least cover your mortgage or more (plus tons of tax deductions). I know it’s a challenging buyer market out there, but if Daniel and Christine can do this, you can too. Schedule a meeting with me today and let’s chat about all your options.
Alright, enough of me sounding like an infomercial. Thanks for letting me get that out of my system.
Congratulations, again, Daniel and Christine. Such a pleasure knowing you and working with you.