HomeLight

FEBRUARY 28, 2022

As Ruiz states above, it’s not uncommon these days for a seller to ask for either a rent-back option, where they rent the property back from the buyers for a period of time, or to make it a condition of the sale that they have 30 or more days after closing to actually vacate the house. Consider a bridge loan.

Equity 126

Equity Debt-to-income ratio Loans Closing 126

HomeLight

JULY 29, 2022

Transition via rent back. If your home sells before you find one to buy, you can opt for a “ rent back ,” also known as a sale-leaseback, holdover , or “possession after closing,” in which you rent your home from the new buyer for a specified period of time, usually no more than 60 days. Opt for a bridge loan.

Debt-to-income ratio 111

Debt-to-income ratio Loans Rent back Agents 111

HomeLight

JANUARY 7, 2022

They’ll also introduce you to options, such as a bridge loan or home equity line of credit, to assist in your sale if needed. And because you’re waiting to sell your current home, you typically can’t use your equity to pay for the down payment on the new property (at least, not without taking out an additional loan). But don’t worry.

Equity 105

Equity Loans Debt-to-income ratio Closing 105