Buying a home and keeping your present home
Buying a new home while keeping your current one can be a smart investment strategy—but it does come with financial challenges, especially when it comes to managing debt. Here are ways you can offset or manage the debt to make this dual-home scenario work:
🔑 1. Rent Out Your Current Home
Offset: Use rental income to cover the mortgage on your existing home.
Pros: Helps cover the mortgage or even generate cash flow.
Note: Lenders often count a portion of projected rental income toward your debt-to-income (DTI) ratio.
💰 2. Use Equity from Your Current Home
Offset: Take out a cash-out refinance…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.