Buy a New Home Before Selling Your Current One
Moving into your next home does not always have to depend on selling your current home first. Sammamish Mortgage’s Buy Before You Sell Program gives eligible homeowners a bridge loan alternative that may help them make a stronger offer without a traditional home sale contingency. Available in Washington, Oregon, Idaho, California, and Colorado, this program gives buyers more flexibility, more confidence, and a stronger position in competitive markets. Get started online or view live rates to compare your home financing options.
Buyers Can Be Empowered by Removing Home Sale Contingencies
Sammamish Mortgage’s Departure Home & Buy Before You Sell Program gives borrowers a powerful advantage: they can purchase their next primary residence without counting their current mortgage payment in their debt‑to‑income ratio.
In today’s competitive market, this flexibility is a game‑changer. With this non-QM expanded program, borrowers can move forward confidently, even if their existing home isn’t listed, under contract, or rented. This allows home buyers to make stronger offers without the burden of a home sale contingency.
Even better, this approach saves time and money. Unlike other “buy before you sell” options that require a temporary bridge loan followed by a final loan, this program allows borrowers to complete just one loan from start to finish.
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When the Current Home Is Pending Sale
Borrowers may exclude the housing payment on their departure residence from their DTI ratio when they meet one of the following sets of requirements:
1. Departure Residence Not Under Contract
Borrowers qualify if they provide:
- A current listing agreement or a written letter stating their intent to list the property within 3 months of closing on the new home
- An Automated Valuation Model (AVM) valuation or full appraisal dated within 6 months showing at least 20% equity in the departure residence
- 2 months of additional reserves
2. Departure Residence Under Contract
Borrowers qualify if they provide:
- A fully executed, arm’s‑length purchase contract for the departure residence
- Proof that the sale is scheduled to close within 60 days of the new home’s closing
- 6 months of additional reserves
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Why Buy Before You Sell?
Many homeowners prefer to buy first because it allows them to:
- Avoid the pressure of finding a new home quickly
- Move on their own timeline
- Make stronger offers in competitive markets
- Renovate or prepare their current home for sale after moving out
Of course, the challenge is managing two homes at once, both financially and logistically. That’s where the Departure Home & Buy Before You Sell Program comes in.
Benefits of Making a Non‑Contingent Offer
A home sale contingency is a clause in a real estate purchase agreement that makes the buyer’s offer dependent on selling their current home first. It’s essentially a safety net: if the buyer can’t sell their home within the agreed‑upon timeframe, they can walk away from the deal without penalties.
What a Home Sale Contingency Does:
- Protects the buyer from owning two homes at once
- Gives the buyer time to sell their existing property
- Let the seller keep the deal moving — but with some limitations
But while this contingency may protect buyers in many ways, it also weakens their offer. Sellers don’t typically like to see a home sale contingency in an offer because it adds uncertainty, delay, and risk for the seller.
Get StartedWhy a Non‑Contingent Offer Put Buyers in A More Empowered Position
Not including a home sale contingency makes your offer dramatically stronger because it removes uncertainty for the seller and signals that you’re ready, qualified, and able to close smoothly. More specifically, here are strong perks of not including such a contingency when making an offer on another property:
Without this contingency, you appear better qualified — someone who doesn’t need another sale to fund the purchase.
Sellers love simplicity; removing the contingency means fewer moving parts and a quicker path to closing.
The seller no longer has to worry about your home selling, which makes your offer feel safer and more reliable.
In competitive markets, clean offers rise to the top; removing this contingency can be the difference between winning and losing the home.
Sellers can plan their move with confidence when your purchase isn’t dependent on another transaction.
A stronger, cleaner offer can give you leverage — sometimes even allowing you to win with a lower price because sellers value certainty.
Sammamish Mortgage’s Departure Home & Buy Before You Sell Program Vs. Bridge Loans
While bridge loans may be a potential solution, Sammamish Mortgage’s Departure Home & Buy Before You Sell Program can offer an alternative strategy. Here’s a quick breakdown of how the two compare:
Feature
SM’s Departure Home & Buy Before You Sell Program
Bridge Loans
Purpose
Helps you buy your next home without selling first using a single integrated financing structure.
Short‑term loan that taps equity from your current home to fund the next purchase.
Loan Structure
Typically one combined mortgage solution designed to replace the need for multiple loans.
Separate short‑term loan layered on top of your existing mortgage.
Interest Rate
Usually aligned with standard mortgage rates since it’s part of a unified loan.
Higher, short‑term interest rates due to temporary nature and added risk.
Monthly Payments
Often structured to minimize or eliminate double payments during the transition.
You may owe payments on both your current mortgage and the bridge loan.
Complexity
Streamlined—one lender, one process, one long‑term loan.
More complex — multiple loans, multiple approvals, and more moving parts.
Risk to Buyer
Lower risk because you avoid carrying multiple loans and avoid timing pressure
Higher risk due to the short payoff window and potential for two mortgages at once.
Timeline Pressure
Minimal — you can sell your old home after moving without rushing.
High — you must sell quickly to pay off the bridge loan before it expires.
What About Bridge Loans?
A bridge loan is a potential solution for the buying-before-selling conundrum. These are short‑term loans that let you buy your next home before selling your current one by giving you temporary access to the equity tied up in your existing property.
Essentially, it “bridges” the financial gap so you don’t have to wait for your sale to close before moving forward. This temporary loan is secured by your current home and provides cash for:
- Your down payment on the new home
- Closing costs
- Or even paying off your existing mortgage (depending on the structure)
Once your current home sells, you use the proceeds to pay off the bridge loan.
Why Samammish Mortgage’s Program Comes Out Ahead
With a bridge loan, buyers would have to close on a new house, sell their old home, then repay the bridge loan. With SM’s Departure Home & Buy Before You Sell program, there’s simply one loan with no gap between selling their old home and buying a new one.
Here are just a few key advantages to using Sammamish Mortgage’s Departure Home & Buy Before You Sell Program over a traditional bridge loan:
Helping Buyers Win in a Competitive Market
Ultimately, the Departure Home & Buy Before You Sell Program empowers borrowers to write cleaner, contingency‑free offers — often the key to winning in multiple‑offer situations — without waiting for their current home to sell.
FAQ
It allows buyers to make strong, non‑contingent offers that sellers prefer in competitive markets.
No — your current mortgage payment can be excluded from your debt‑to‑income ratio if program requirements are met.
Unlike bridge loans, this program uses one long‑term loan instead of temporary financing plus a final mortgage.
Yes —buyers can qualify even if their home isn’t listed, under contract, or rented.
You’ll need a listing agreement or intent‑to‑list letter, an AVM/appraisal showing 20% equity, and 12 months of reserves.
You’ll need a signed purchase contract, proof of closing within 60 days, and 6 months of reserves.
Often yes — the structure is designed to minimize or eliminate overlapping payments.
There’s no short‑term payoff deadline, no temporary loan, and no pressure to sell quickly.
Absolutely — you can move first, then stage, renovate, or prep your home without rushing.
It’s simpler, cheaper, lower‑risk, and allows buyers to make stronger offers with just one streamlined loan.
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If you’re looking for a financing solution when buying and selling, Sammamish Mortgage can help. We serve clients across Washington, Idaho, Colorado, Oregon, and California. We have been providing many mortgage programs and products with flexible qualification criteria to borrowers across the Pacific Northwest since 1992. Visit our website to get an instant rate quote or to use our online mortgage calculator. Please reach out to us if you are ready to get pre-approved for a mortgage.
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