Daniel Senda

Thinking about buying another home but don’t want to give up your current mortgage?

You might not have to.

Depending on your qualifications and loan program, you may be able to keep your existing property, convert it into a rental, and purchase another primary residence.

And in certain situations, qualifying rental income from your departing residence may help offset the existing mortgage payment.

This can be especially valuable for homeowners who purchased when interest rates were significantly lower.

However, lenders will evaluate your income, existing debts, available assets, rental documentation, and applicable loan guidelines.

Not every borrower or property will qualify.

Before assuming you need to sell your current home to purchase another one, understand the financing options available to you.

Daniel Senda
747.255.9190
[email protected]
NMLS 1833834

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