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Established Member
Posts: 24
Registered: ‎11-16-2014
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Buying a new house while trying to sell current one

How does this work? Is it possible to get an approval contingent on selling our current house? Our current mortgage is VA and we would want to have the new mortgage be VA. We bought almost 2 years ago but have to relocate due to my job. I hope to avoid selling this house, moving somewhere temporarily and then buying another house, but I have no idea how it works with VA.

Also, do lenders care about debt aside from the monthly payment that shows on your credit report? Our DTI is not an issue, I just wonder if they see credit card debt and think "oh, this person can't manage their money."

Regular Contributor
Posts: 140
Registered: ‎02-21-2017

Re: Buying a new house while trying to sell current one

approval contingent on selling our current house.... YES.  The timing would be a pita but yes VA and FHA will do that.  Heck, if your DTI isnt an issue and they think you can handle both houses then approval contingent wont be an issue.

Posts: 10,804
Registered: ‎03-06-2010
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Re: Buying a new house while trying to sell current one

[ Edited ]

It is easy to get a mortgage approval subject to the sale of your home.  


Getting an accepted contract may be a little more difficult unless your current home is under contract.  It is easier to get the seller to accept a contract of yours is nearly ready to close.  It is still subject to the sucessful closing of your sale. But then you are protected if the contract falls through for any reason.  Make sure you let your agent and lender know you don't want two mortgages so s/he structures the purchase right.


As to debt:  the lender looks a ratios and if you have rising debt (acclerating debt). I'm almost 95% certain they aren't looking at the type of debt but the LO's on this board will know more. 


PS I am assuming you aren't running out and buying a bunch of toys like jet ski's, boats, fun & fast cars etc. 

Senior Contributor
Posts: 3,437
Registered: ‎09-01-2014
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Re: Buying a new house while trying to sell current one

I am following along...may be in the same process in a couple weeks.

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