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I forgot summarize my recommendation so here it is:
a. Sell your old home before buying your new home. This way you are
paying for one set of lending fees (for the purchase of your new home)
and two (refi of old home to purchase new home).
b. If you must borrow against your old home, use a HELOC and borrow
only what is required for the down payment and try to get the first
home sold before loan origination on your new home.
c. If you borrow against your old home and do not sell your it before
you buy your new home, apply for a no-doc loan in the variation of your
choosing (30 yr fixed, interest only and ARMS are offered with no-doc
loan types).
Regards,
Scott Miller
National Commercial and Residential Lender/Broker
1.877.716.6495
EZMortgageLoanz@aol.com
www.EZMortgageLoanz.com
www.RealEstate-IQ.com
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Re: Ping or Calling Jeff Strickland Please Help
