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Sell or get a 2nd loan?

We currently own a home and are selling it to buy a new one in Missouri. It sits on a 40 acre lot with a pond with an asking price of $200k. Should we get a 2nd loan to buy a new property or wait for our current one to sell? by mhoffman26 from Garden City, Missouri. Dec 27th 2021 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

I run into a lot of folks that believe the have no choice but to sell first. This is not always true. I helped a couple buy their dream home with a 5% down payment in October. They did some pre-move-in updates, moved in just after Thanksgiving, fixed up the old home, placed it on the market and sold it quickly for top dollar. We just started the process of paying down the principal, and recasting the loan into a much smaller payment without having to refinance. You might be able to do the same. I'm licensed in MO and would be happy to help you see what your options are. Reach out and lets find out.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300

Jan 4th 2022
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