Want to buy before you sell? It is the most common question we get from families moving to Jacksonville with a house to unload back home. You have five real options, and one of them changed this month. Available for qualified borrowers. Program guidelines apply. All loans subject to credit approval.

Why This Comes Up So Often Here

Buy before you sell is the standard question for a relocating family with equity.

Jacksonville gets a lot of buyers from out of state. Most of them own a home already.

Selling first is clean, but it means moving twice or renting for a few months. Buying first is easier on the family, but it means carrying two payments on paper.

The good news: lenders have rules for exactly this. You do not always have to qualify with both full payments.

Option 1: Offer With a Sale Contingency

Your offer says you will buy once your current home sells.

It protects you. It also weakens your offer. In a market with several bids, a contingent offer usually loses. It works best on a home that has been sitting, or with a builder who has standing inventory.

Option 2: Get the Old Home Under Contract First

This is the cleanest path, and it costs nothing.

Fannie Mae does not require your current home’s payment in your ratios if you give the lender the executed sales contract and confirmation that the buyer’s financing contingencies have been cleared. Freddie Mac has similar treatment, and there is an added path for employer relocation buyouts.

That one document can swing your approval by hundreds of dollars a month. If your old home is under contract, tell your loan officer right away.

More on that here: how to exclude your existing mortgage when buying a new home.

Option 3: Keep the Old House and Rent It Out

Plenty of relocating buyers keep the old home. The rules for counting that rent just changed.

Fannie Mae issued new departing residence rules on September 2, 2026. Lenders may use them now, and they are required on applications dated November 1, 2026 or later. Here is what they say:

• A lease is no longer accepted for a departing residence. The lender uses market rent instead, from an appraisal with market rents, a Form 1007 rent schedule, or at least three comparable rentals.
• Only 75% of gross market rent counts. The rest is assumed to go to vacancy and repairs.
• The rent can only offset that home’s payment. If 75% of market rent is less than the payment, the shortfall counts against you. If it is more, the extra does not boost your income.
• Six months of reserves for that home’s payment are required if you have less than 12 months of property management experience. That is on top of other reserve requirements.

FHA works differently. Rental income from a home you are leaving generally requires either meaningful equity or a documented relocation, and FHA has its own distance rules for keeping one FHA loan while getting another.

Agency guidelines may change, and lender overlays can be stricter.

Option 4: Bridge Financing or a HELOC

Both let you pull equity out of the old home for the down payment here.

	Bridge Loan	HELOC on Current Home
Term	Short, often 6 to 12 months	Revolving line
Cost	Higher rate and fees	Usually lower cost to open
Timing	Can be arranged while listed	Open it BEFORE you list
Payoff	When the old home sells	When the old home sells

The timing line is the one people miss. Most lenders will not open a home equity line on a house that is already listed for sale. If a HELOC is part of your plan, set it up first.

Option 5: Buy With Cash, Then Refinance

If you can buy here with cash, from savings, investments, or a family loan, there is a rule built for you.

It is called delayed financing. You can do a cash-out refinance within six months of a cash purchase and get your money back, instead of waiting the usual seasoning period.

The requirements are specific. The purchase has to be arm’s length, the title search has to show no liens, you document where the cash came from, and the new loan cannot exceed what you put in plus closing costs. Standard loan limits apply.

After the Old Home Sells: Ask About a Recast

Here is the step most people never hear about.

Once your old home sells, you can often apply a large lump sum to the new loan and ask the servicer to recast it. That re-amortizes the balance over the remaining term and lowers your payment. Your rate and your payoff date stay the same.

Most servicers charge a small fee. Not every loan type allows it, so ask before you close, not after.

Common Mistakes

• Listing the old home before opening a HELOC. Once it is listed, that door usually closes.
• Assuming rent from the old house solves the problem. Under the new rules, it offsets that home’s payment and no more.
• Waiting to mention the pending sale. The contract and cleared contingencies can change your approval.
• Emptying savings for the down payment. Reserves are part of the approval, especially if you keep the old home.
• Buying at the top of the range. Carrying two payments for a while is easier with room to breathe.

Tips From a Northeast Florida Broker Since April 2000

• Start the conversation two months before you list. Sequence matters more than rate here.
• Get a market rent opinion early if you are thinking about keeping the old home. It decides whether the plan works.
• Ask your agent about builder inventory. Builders are often more flexible on contingent offers than individual sellers.
• Plan the reserves. Six months of the old home’s payment is real money, and it has to be documented.
• Compare the total cost, not just the rate. A bridge loan for four months can beat a double move.

Which Option Fits?

Use this to narrow down how to buy before you sell in your own situation.

Your Situation	Usually the Best Fit
Old home already under contract	Option 2
Strong income, want to keep the old home	Option 3
Lots of equity, need the cash now	Option 4
Can buy with cash short term	Option 5
Tight on income and reserves	Option 1, or sell first

This is general information, not advice on your file. Estimates and eligibility depend on the information provided and are subject to credit approval.

Buy Before You Sell: FAQ

Can I buy before you sell and skip my old mortgage payment?

If the home is under contract and the buyer’s financing contingencies are cleared, conventional guidelines let the lender leave that payment out of your ratios with the right documentation.

Do I need to sell first to get pre-approved?

No. We can pre-approve you on several scenarios: sold, under contract, or kept as a rental. You will see what each one does to your number.

How much rent counts if I keep my old home?

Under the new Fannie Mae rules, 75% of market rent, and it can only offset that property’s payment. Market rent comes from an appraisal or comparable rentals, not from your lease.

Are bridge loans expensive?

They cost more than a first mortgage, and they are short term. For a few months, that cost can still beat moving twice.

What is delayed financing?

It lets you refinance within six months of buying a home with cash and recover your funds, as long as the purchase and the source of money are documented.

Will my payment drop after my old house sells?

Not on its own. You can pay the loan down and ask for a recast, which lowers the payment over the remaining term. Ask your servicer whether your loan allows it.

The Bottom Line

Most people who want to buy before you sell their current home can, with the right structure. The trick is deciding the order of operations before you list, not after. Bring me the details early and we will map it out. Available for qualified borrowers. All loans subject to credit approval.

Keep reading: buying in Jacksonville from out of state, homeowners insurance here, how much house you can afford, and how pre-approval works.