Obstacle 01 · Equity & down payment
I need the money from my current home.
Needing your equity does not automatically mean you have to sell first. The first question: do you need that money before buying—or could you bring it over afterward?
Two ways to think about the money.
A few things matter.
- How much equity remains after mortgages, other liens and sale costs?
- How much cash do you have for the purchase, closing costs and a cushion?
- Can you qualify—and comfortably manage the costs—until your home sells?
- What changes if it sells later, or for less, than expected?