If you're selling a home and planning to use your equity to pay off debt before buying a new home, what’s the best way to handle the transition? In this episode, we’re going to look at the two common scenarios where home sellers need to pay off debt—either by necessity to qualify for a mortgage or by choice to improve their financial situation – and then talk about the options your mortgage lender might provide.
Here’s what we discuss in this episode:
🏡 Selling & buying? How to handle debt payoff between transactions
💳 What debt should you pay first? The smartest financial approach
💰 Using home equity wisely – Should you pay off loans or invest in your new home?
📊 The impact of debt on mortgage qualification – What lenders consider
0:00 – Intro
1:01 – Liability advisors
2:29 – Closing options
7:00 – Does type of debt matter?
8:50 – How we help
CONTACT:
Schedule a time to meet with Bill here: https://calendly.com/blitton/
Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/
Call: 484-352-4151.
Check us out on YouTube: https://bit.ly/3KbUxAF
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