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Move-Up Buyers: Unlocking Opportunities in Today’s Market

June 7, 2023 | 2 minute read


In today’s article, we will shed light on the exciting opportunities available for move-up buyers in

the current market. Whether you’re looking for a larger space, a better location, or improved

amenities, now is an excellent time to explore your options and make a move.

Guiding You Home
Complete our Quick Start Form and we’ll connect you with a loan officer that matches your specific needs. They’ll provide a free consultation and guide you through every step of the loan application process.

Leverage Your Home Equity:

As a move-up buyer, you likely have built equity in your current home; particularly over the past few years. Your home

equity is a valuable resource that can be used as a down payment along with covering closing costs for

your new property. Given recent gains in most markets, tapping into your home equity now will provide you with a more substantial down

payment, which can lead to a lower interest rate or the removal of mortgage insurance costs. Summit

Mortgage Corporation can guide you through the process of accessing your home equity and

help you determine the best strategy to maximize your purchasing power.

Strategic Selling and Buying:

Selling your current home while simultaneously buying a new one requires careful planning.

With low inventory levels in many markets, it’s essential to prepare your home for sale to attract

potential buyers and secure a quick sale at the best possible price. In some cases, you may qualify to purchase your new home prior to selling your existing home, and Summit Mortgage can explore that option with you.

Work with experienced real estate agents who can help you navigate this process smoothly. Summit Mortgage Corporation can assist you

in coordinating the timing of your transactions, ensuring a seamless transition from your existing

home to your dream home.

Expanding Your Location and Amenities:

Move-up buyers often have specific needs and preferences when it comes to their new homes.

Whether it’s a larger space for a growing family, a better school district, or proximity to

amenities, the move-up price point often offers a variety of options to meet your requirements. Summit

Mortgage Corporation can help you explore mortgage options and identify the best opportunities based on your desired location and amenities.

Capitalize in a seller’s market:

One of the significant advantages for move-up buyers in today’s market is the potential equity available and the demand for their current home.

This combination can translate into success when looking for your next ‘just right’ home. While current interest rates may be higher than the rate you have on your current home, your buying and selling advantages may make this the ideal time to make a move, and should rates come down, you can refinance at that time.

As a move-up buyer, you have the advantage of favorable home equity and a seller’s market. By partnering with Summit

Mortgage Corporation, you can navigate the complex process of selling your current home and

purchasing your dream home with confidence. Our team of experts is here to guide you through

the entire journey, providing personalized solutions to meet your unique needs. Contact us

today to embark on your move-up buying adventure and unlock the opportunities waiting for you

in the real estate market.

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