I Own A House — And Want To Buy Another

Replace your current mortgage with a larger one and take the difference in cash for your next purchase.

Buying a second home while already owning one is a common way to upgrade, downsize, or build an investment portfolio. Your strategy depends on whether you plan to keep your first home or sell it to fund the new one. 1. Evaluate Your Financial Capacity i own a house and want to buy another

There are several ways to fund your second purchase without necessarily having the cash on hand: Replace your current mortgage with a larger one

Short-term loans designed to "bridge" the gap between buying a new home and selling your old one. including both mortgage payments.

Lenders generally look for a DTI ratio below 43% , including both mortgage payments.