Buy Before You Sell in Texas: Buy First, Move Once

Buy the next home before you sell this one

Most people sell first because it feels safer. It usually means two moves, a short-term rental, a storage unit, and shopping for the next home on a deadline. Buying first flips the order: you own both homes for a stretch, make one move, write a stronger offer, and sell an empty, staged house on your own schedule.

Buy First, Move Once is built for move-up buyers in Texas, and it does two things.

It estimates the equity in your current home

Enter an estimated home value, your mortgage payoff, any other liens and your selling costs. The tool shows your equity today, what you might walk away with after the sale, and your equity as a share of the home's value. Nothing you enter is sent or saved.

It points you to a starting structure

Four quick questions narrow down which of four paths fits your situation:

• Bridge or equity financing. Use the equity in your current home for the next down payment before it sells, then pay it off from the sale. A fit for meaningful equity and not much cash on hand. Texas homestead rules shape how this can be set up.
• Dual qualification. Qualify for the new mortgage while you still have the current one, using documented income that can carry both payments for a while.
• Current home under contract. With a signed buyer, Kyle can line up both closings, sometimes on the same day.
• Asset-based qualifying. Qualify with retirement accounts, investments or large reserves, instead of or on top of paycheck income. Common for retirees, business owners and people paid on commission.

What to know before you start

Each path has a tradeoff, usually a second housing payment until the sale closes, so cash reserves matter. How much equity you can use before you sell depends on the program, Texas homestead rules, your credit, income, appraisal and underwriting. The estimate is educational and is not a loan amount. For borrowing against the home you own now, see cash-out refinance and HELOC.