Buy Your New Home Now, Sell Later (Formula for Low Stress & Maximum Profit)
webadmin • February 14, 2024
In today's fast-paced, ever-changing real estate marketplace, moving homes without the immediate need to sell an existing residence provides an unmatched level of flexibility and strategic advantage to the process.
In an environment where the movement of interest rates and market dynamics is so erratic, the traditional process of buying and selling can be very intimidating. But the historical record is clear, it pays to invest in real estate. How? Well, since 1942, homeowners who have held their properties for a decade or more have never failed to realize gains on their investments in all but one period.
Despite unfavorable current interest rates and market conditions, opportunities to invest in a new home still exist. Intrinsic value and historical growth trends highlight that there are still considerable benefits to be achieved in the longer term. All in all, the best solutions to be traded are those with a good balance between low risk and high profitability.
One available solution is our Power Buyer program, which allows you to make a strong cash offer for your new property even before you sell your existing one. It increases your bargaining position, of course, but it does so much more: it takes the uncertainty out of a contingent offer, making your proposal more attractive to sellers.
Here are a few more products and programs that could help you on your financial journey:
One available solution is our Power Buyer program, which allows you to make a strong cash offer for your new property even before you sell your existing one. It increases your bargaining position, of course, but it does so much more: it takes the uncertainty out of a contingent offer, making your proposal more attractive to sellers.
Here are a few more products and programs that could help you on your financial journey:
- Home Equity Line of Credit (HELOC): Unlock the value trapped within your current home using a HELOC and secure the needed funds for down payments or home improvements to increase marketability. By using it, the only time the costs come into play is when the money is used, so it might be a wise preparatory step before the entrance into the market.
- Bridge Loans: Tailored to transition, bridge loans offer an amount equal to part of the value of the existing home as immediate cash to make it easy to purchase the new property without an urgent need to sell. No ongoing payments are required; what's more, the fee structure often undercuts traditional loan costs, buying sellers some breathing room to sell at the optimal time.
- Buy and Hold Strategy: Keep your current house as a rental property, leveraging prospective rental income for qualifying to purchase your new house. This not only maintains your investment but also taps into potential rental market gains, offering yet another avenue of income. For those with financial flexibility, retention of the existing property as a long-term investment capitalizes on market growth, diversifying your investment portfolio.
- Proof of Pending Sale: Demonstrate that your current home is under contract – this can alleviate the need to cover two mortgages, easing the financial transition between properties.
Beyond the Sale: The Long-term Vision
Considering the long-term vision, converting your current home into a rental property presents another viable option. It can be a way of putting off the decision to sell in a potentially fluctuating market, as well as initiating an opportunity for ongoing passive income coupled with long-term asset appreciation.Your Financial Journey, Our Expert Guidance
Our role is to illuminate the best options for your unique journey, ensuring your new home meets both personal and financial aspirations. In this market landscape that keeps changing with every passing day, your decision to invest in a new home means more than just buying a place to live in. It means the first movement towards financial growth and stability.Move a Step Ahead
We invite you to explore these innovative offerings designed for your journey. Act now for a seamless transition through the our Power Buyer program, or to capitalize on strategic rental income benefits. Connect with us to chart a course to your new home, grounded in expertise and driven by your vision for the future.
Here at Luminate Home Loans, we’re always looking for ways to offer more value to our clients and partners. That’s why we’re thrilled to announce that we’re now a wholly owned subsidiary of Luminate Bank®—and soon, we’ll officially transition under the Luminate Bank® name.
For years, homebuyers have been hoping for a return to the ultra-low mortgage rates seen during the pandemic. But as we move through 2025, it’s becoming increasingly clear that today’s rates—hovering between 6% and 8%—aren’t going anywhere.
Luminate Bank® Welcomes Josh Eifert as Chief Financial Officer, Honoring Legacy of Dave Turk [Minneapolis, Minn.] – [2/4/2025] – Luminate Bank® is proud to announce the appointment of Josh Eifert as its new Chief Financial Officer, succeeding Dave Turk, who has played a pivotal role in shaping the company's strong financial foundation. Josh brings a wealth of experience and strategic vision to Luminate Bank, with 26 years in the banking industry. Most recently, Josh served as CFO at Tradition Capital Bank in Edina, Minnesota, where he led the financial strategy during its remarkable growth from $300 million to more than $2.5 billion in total assets. Before his tenure as CFO, Josh contributed to Tradition Capital Bank in other key financial roles. He began his career with Norwest and Wells Fargo Banks, gaining extensive expertise in financial and operational capacities. Luminate Bank's leadership transition reflects the company's thoughtful succession planning, ensuring its financial strategies remain robust and forward focused. Under the leadership of Dave Turk, Luminate Bank has built an exceptional financial infrastructure, delivering consistent results and creating a foundation that positions the company for continued success. Luminate Bank's CEO, Marc Campbell, shared his confidence in the appointment: "Josh not only brings exceptional financial acumen and strategic insight to Luminate Bank, but he also embodies the principles that define our organization: integrity, innovation, and a steadfast commitment to excellence," Luminate Bank's CEO, Marc Campbell, shared with confidence. "His leadership will ensure our financial strategies succeed and inspire confidence across all who depend on us." "I am honored to join Luminate Bank at such an exciting time. The company's remarkable history of financial excellence and its forward-thinking approach align perfectly with my values and vision," stated Josh Eifert. "I look forward to collaborating with the talented leadership team to build on this strong foundation and drive continued success for our customers, employees, and stakeholders." Josh graduated from the University of Minnesota with a degree in finance and completed the Graduate School of Banking at Colorado. CEO Marc Campbell expressed gratitude for retiring CFO Dave Turk's contributions, saying, "Dave has been instrumental in positioning Luminate as a financial leader. His dedication, insight, and stewardship will always be a part of our company's legacy." Josh Eifert will officially assume his role on February 18, 2025. About Luminate Bank® At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey. Our dedicated mortgage division has branches and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide. Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank , follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200. For media inquiries, please contact: Debbie Schwake, CMO debbie.schwake@luminate.bank
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