Found your dream home before selling your current one? You’re not alone — and the good news is: you’ve got options.
Here are four smart strategies that can help you buy your next home without having to wait.
1. Make a Contingent Offer
With this approach, your offer on the new home depends on successfully selling your current one first. It’s the safest option financially, but in a competitive market, it can be harder for sellers to accept.
✅ Pro: No risk of paying two mortgages
⚠️ Con: Might not be strong enough in a hot market
2. Use a Bridge Loan
A bridge loan is a short-term loan that lets you tap into the equity of your current home for the down payment on the new one. Once your existing home sells, the bridge loan gets paid off.
✅ Pro: Use your current home’s equity now
⚠️ Con: May come with higher interest rates and fees
3. Carry Two Mortgages Temporarily
If you qualify, you can buy your next home and hold onto your current one until it sells. This gives you more flexibility — but requires the ability to carry both mortgages for a short period.
✅ Pro: No rush — buy first, then sell
⚠️ Con: Requires strong income and reserves
4. Try a “Buy Before You Sell” Program
Some companies — like Homeward or Opendoor — will buy your next home for you in cash, then sell it back to you once your old home sells. This lets you make a strong offer without juggling two mortgages at once.
✅ Pro: Make a non-contingent offer and avoid overlap stress
⚠️ Con: May include added fees (1–3%) and two closings
Bottom Line
There’s more than one way to move forward — and you don’t have to figure it out alone. If you’re thinking about buying before selling, we can walk through all the options and help you make the smartest move based on your goals.
📞 If you’re thinking about buying, or refinancing give us a call at (830) 402-4284 or visit NovumHomeLoans.com. We’ll help you run the numbers and make a smart move.
