Can I buy before my current home sells?
Possibly, but qualifying and having cash available are separate tests. Ask Ashley how the existing mortgage, proposed new payment, other debts, reserves and expected sale proceeds would be evaluated before you commit to a closing timeline.
Map the timing of your money.
Sale proceeds generally are not available simply because your current home is listed or under contract. Write down when your deposit, inspection costs, down payment and closing costs are due. Then identify which funds will actually be available on each date.
Compare three possible sequences.
| Sequence | Question to resolve | Tradeoff to budget for |
|---|---|---|
| Sell, then buy | Where will you stay between closings? | Temporary housing, storage and moving twice. |
| Coordinate both closings | What happens if either transaction is delayed? | Timing dependencies and contract contingencies. |
| Buy, then sell | Can you qualify and fund the purchase before the sale? | Overlapping payments, insurance, utilities and available cash. |
Do not assume future proceeds solve today’s approval.
Your lender needs to evaluate the current facts and acceptable documentation. Ask whether sale documentation can change how the existing mortgage is treated, and which conditions must be satisfied. Do not move money or open a new credit line without discussing the effect on your application.
Ask about a later principal payment.
If you plan to apply sale proceeds to the new mortgage, ask what that would change. A principal reduction does not automatically reduce the required monthly payment. A recast, where available, has separate loan-servicer rules and is not the same as a refinance. This guide does not establish that a bridge loan, recast or other special product is available through First State Bank.
Bring a two-home budget to the conversation.
- Current principal, interest, taxes, insurance and association dues.
- Estimated costs for the next property.
- Cash available before your sale closes.
- A reserve for delays and unexpected expenses.
- Your preferred closing dates and an alternative plan.
Start with preapproval preparation, then ask Ashley about your sequence. Your real estate agent can help with contract terms; the lender decides financing requirements.
- CFPB: planning an affordable home purchase
- CFPB: understanding the new loan
- First State Bank: Ashley Jones and application process
Sources checked September 15, 2026. Educational content; confirm current program details with your lender.