Key takeaways
- Sale contingencies are the weakest part of most move-up offers in competitive towns.
- A HELOC on your current home is often the cheapest way to unlock a down payment.
- Bridge loans buy time when equity is tied up and speed matters.
- Some buyers simply qualify carrying both payments, which is the simplest path of all.
Option 1: qualify carrying both
If your income supports both mortgage payments, this is the cleanest structure. No bridge, no contingency, no extra cost. We check this first because it is often possible and rarely explored.
Option 2: HELOC on the departing home
Open a home equity line before you list. Draw from it for the down payment on the new home, then pay it off with the sale proceeds. It is typically the lowest-cost way to access equity, but it needs to be set up before your current home goes on the market.
Option 3: bridge financing
A bridge loan is short-term financing secured by your existing home, designed to be repaid at closing. It costs more than a HELOC but can be arranged faster and later in the process.
Option 4: sale contingency, used deliberately
In slower price points a contingency still works. In Manalapan, Marlboro, or Red Bank against multiple offers, it usually loses. We help you and your agent decide when it is worth the risk.