First post. Have been lurking for sometime.
I'm planning on viewing some model homes in the Irvine/Tustin area this weekend. I'm looking for >2000 sq ft home. Any suggestions where to go and look. Not very serious about purchasing anytime soon. Already own a home in Cypress but would like to move to Irvine or Tustin in a few years.
Another question if it's okay. I'm planning on keeping my house in Cypress to rent. Purchase price in the 90's was 285,000 or so now "worth" 700,000. Because I won't be selling ,purchasing our next home will be a bear. What are your opinions in pulling out some of the equity of the current home for the purchase. Should I do this now and hold in a CD while understanding i'll be losing a little bit each month or wait as my purchase date gets closer. Any other thoughts on financing this. I currently have a fixed 30 year with a fairly good interest rate of 5.7%. I plan on a 30 year fixed loan for the future home as well.
Thanks in advance.
I'm planning on viewing some model homes in the Irvine/Tustin area this weekend. I'm looking for >2000 sq ft home. Any suggestions where to go and look. Not very serious about purchasing anytime soon. Already own a home in Cypress but would like to move to Irvine or Tustin in a few years.
Another question if it's okay. I'm planning on keeping my house in Cypress to rent. Purchase price in the 90's was 285,000 or so now "worth" 700,000. Because I won't be selling ,purchasing our next home will be a bear. What are your opinions in pulling out some of the equity of the current home for the purchase. Should I do this now and hold in a CD while understanding i'll be losing a little bit each month or wait as my purchase date gets closer. Any other thoughts on financing this. I currently have a fixed 30 year with a fairly good interest rate of 5.7%. I plan on a 30 year fixed loan for the future home as well.
Thanks in advance.