Buy a home > I’m selling my house and moving to a new one.

Moving opens up an exciting new chapter in your life. Unfortunately, it has also proven to be one of life’s most stress-inducing major events. Aside from finding a home and applying for a mortgage loan, you'll be uprooting yourself and your family, and perhaps adapting to a new lifestyle in a different part of the country. While we can’t make every aspect of your move easier, Topdot strives to make your mortgage process as simple as possible.

One way to ease the anxiety of the home mortgage process is by being honest with yourself and looking at your financial situation and your goals. Here are some important things to consider:

Are you selling your home?
If you are selling a current residence and moving into your new home, timing is crucial. Everything needs to be coordinated between the buyers, sellers, real estate agents and lenders on both sides. By adhering to the deadlines set by all the parties, you’ll avoid unnecessary fees and charges. If you know you will be moving, you should place your current home on the market as soon as possible to avoid the risk of having two mortgage payments at once. Speak with a Topdot mortgage specialist as early on in the process as possible. We can help you manage this complicated transition.

How’s your credit?
Any mortgage lender will require your credit risk score from reputable credit bureaus such as Equifax, Experian or TransUnion. Commonly known as your FICO score, this number will help determine if you are a “good risk.” The higher the score, the more home mortgage options available to you. The credit report looks at a number of factors including:

• If you pay your mortgage on time (most important)
• If you pay your bills on time
• Your outstanding debts and loans, if any
• Your credit limits
• The types of credit you have

Blemishes on your credit history may prohibit some lenders from giving you a loan. But the knowledge we’ve acquired over our many years of structuring mortgages allows Topdot to provide mortgages when others can't. We look deep into your individual situation to find the hidden assets that will get you the loan.

Contact us and a mortgage loan specialist will be happy to discuss the many home mortgage options available for all types of home buyers, including those with poor credit. To learn more about your credit, click here.

How much house can you afford?
It makes no sense to start looking for a house until you know how much you can comfortably afford. Use our home affordability calculator and get an estimate of a home price that would work within your monthly budget. Determining your payment will be influenced by how much you put down at closing. If you are selling your present house, ask your real estate agent for an estimate of its value. This will help you better determine what type of down payment you'll be able to put down on a new home.