Buying and selling a house at the same time.
Buying a new home while selling your current one presents a unique set of challenges that require a strategy—especially with financing.
If you sell first: You’ll likely have an easier time getting a mortgage for your new home. But you could find yourself without a place to live.
• Tip: A rent-back agreement, which works by either lowering your selling price or paying rent to the buyer, lets you remain in your current home for up to 90 days while you house hunt.
If you buy first: You’ll have plenty of time to move—but you could find yourself with two mortgages.
• Tip: A short-term bridge loan uses your current home’s equity to pay for your new home and is repaid when you sell your current property.
At Commerce Bank, we make the financing process as seamless as possible. Let us work with you to get the job done with minimal stress.
3550 West 38th Avenue, Suite 70, Denver, Colorado 80211
8450 East Crescent Parkway, Suite 150, Greenwood Village, Colorado 80111
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