Need some advice on house purchasing

Housing

Hi All,

I and my GF are relocating to another city (in Texas) for work. Currently I own a house that's fully paid off, so here are my options:

  1. Get a mortgage first, and then pay off most of the loan after selling my current house. I think this is the preferred way since we can avoid needing a place to stay in between. However I'm not sure what is the best way to handle the mortgage: I assume since I can pay most of the mortgage off after selling my current home, the interest rate and APR is less of a concern for me? Should I just go with my bank since it's probably more reliable? And does it matter if I get a loan myself or get the loan together with my GF (we do plan to get married very soon)? Also I and my GF can contribute differently on the down payment, what is the best way to handle the title and deed?

  2. Another option would be selling my home first and hopefully buy a new home with cash. But we would need temporary housing which is not something we prefer. Is there any benefits for doing this (other than saving a few months worth of interest on the loan)?

Is there another way that this can be handled? Please let me know, thanks!

Posted Jul 1, 2021, 12:01 AM UTC

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