Most sellers are buyers too. The services on this page are things I offer to clients I’m working with on the purchase of their next home — it’s my way of supporting the full move, not just the mortgage paperwork.
That includes sellers working with a listing agent and homeowners selling on their own. If you’re a FSBO, I’m glad to help — with the financing strategy, net proceeds analysis, listing promotion, and open house support described below — as long as we’re also working together on your next purchase.
Buying and Selling a Home at the Same Time
For most Washington homeowners, the equity in your current home is the down payment for your next one. That creates a real logistical challenge: how do you buy before you sell — without overextending yourself — and how do you sell without having somewhere to go?
The good news is that there are more options than ever to bridge the gap between the home you have and the home you want.
The Three Common Scenarios
| Scenario | Challenge | Common Solution |
|---|---|---|
| Buy first, then sell | Carrying two mortgages temporarily | Bridge loan or HELOC |
| Sell first, then buy | Finding temporary housing between closings | Rent-back agreement, short-term rental |
| Simultaneous close | Timing and coordination risk | Strong pre-approval + coordinated listing agent |
Which path makes sense depends on your equity position, income, reserves, and risk tolerance. I work through the numbers with you so you can make an informed decision — not a pressured one.
How to Access Your Home Equity to Buy Your Next Home
Washington homeowners have seen substantial appreciation over the past decade. If you’ve owned your home for several years, you may have significant equity you can put to work — even before your home sells.
Here are the primary ways to access that equity:
Home Equity Line of Credit (HELOC)
Tap your equity now, use it for a down payment on the new home, then pay it off when your current home closes. This works well if you have enough income to qualify carrying both the HELOC and your existing mortgage.
Bridge Loan
A short-term loan that pays off your existing mortgage and provides your down payment — with no payments due for up to 12 months or until your home sells. Interest accrues and is settled at closing. See the full section below.
Offset Mortgage (First Lien HELOC)
A unique product that combines a HELOC with your first mortgage to reduce the balance on which interest accrues — while keeping funds accessible. An excellent tool for sellers who want maximum flexibility. See the full section below.
Cash-Out Refinance
If you have substantial equity and plan to stay in your current home for a while before selling, a cash-out refinance can convert equity to cash for your next purchase. Less common in a move-now scenario but worth evaluating.
The right option depends on your timeline, loan balances, and how much equity you have. I’ll run the numbers for each scenario so you can compare apples to apples.
How I Help Washington Seller-Buyers
When you’re selling and buying simultaneously, you need someone who can hold both sides of the equation in their head at once — the financing on the home you’re leaving and the home you’re buying. That’s exactly what I do.
Here’s what our work together typically looks like:
- Estimated Net Proceeds Review — We start by calculating what you’ll actually walk away with.
- Down Payment Strategy — We map out how your proceeds get to the closing table for the new home.
- Pre-Approval for the Purchase — You shop with strength, not contingency anxiety.
- Bridge or HELOC if Needed — If you need to buy before you sell, we have tools for that.
- Coordination with Your Listing Agent — I work as a team with your agent to keep timelines aligned.
- Listing Promotion — I actively promote your listing through my marketing channels to qualified buyers.
Ready to map out your move?
Let’s start with a 20-minute conversation about your goals and timeline. No cost, no obligation.
Estimated Net Proceeds: Know Your Numbers Before You List
Before you can make smart decisions about your next home, you need to know how much you’ll actually net from the sale of your current one. “I think we have about $300k in equity” is a starting point — but it’s not a plan.
An estimated net proceeds analysis accounts for:
- Your current mortgage payoff (including any HELOCs or second liens)
- Estimated selling costs (agent commissions, title, escrow, excise tax)
- Seller-paid closing costs or credits negotiated in your purchase contract
- Pre-sale repairs or staging costs
- Prorated property taxes and HOA dues
What’s left is your net — and that’s what you’re working with on the buy side. I prepare this analysis for my clients before they list so there are no surprises at closing.
Note: Washington State imposes a Real Estate Excise Tax (REET) on home sales, which is graduated based on sale price. This is often overlooked in informal equity estimates and can be a meaningful cost at higher price points.
Bridge Loans: Buy Now, Sell Later
A bridge loan is a short-term loan secured by your current (departing) home. It pays off your existing mortgage and provides the cash you need for your down payment on the new home — all in one loan. No payments are due for up to 12 months or until your home sells, whichever comes first. Interest accrues during that period and is settled when the home closes.
How It Works
- You get pre-approved for a mortgage on the new home.
- The bridge loan pays off your existing mortgage and provides your down payment funds — with no monthly payments required.
- You close on the new home and move.
- Your current home goes on the market. When it sells, the bridge loan balance (including accrued interest) is paid in full from your proceeds.
Who Bridge Loans Work Best For
- Sellers with substantial equity in their current home
- Buyers who don’t want to write a contingent offer in a competitive market
- Homeowners who want to move once — not twice — by buying before the current home sells
- Borrowers who want to avoid carrying two mortgage payments simultaneously while their home is on the market
Bridge Loan Considerations
- Rates are typically higher than a conventional first mortgage
- Interest accrues daily from closing — the longer your home takes to sell, the more interest accumulates, so accurate pricing matters
- The 12-month window is generally more than enough time to sell a well-priced home in the Seattle metro area
Not every lender offers bridge loans. I have access to bridge loan programs and can evaluate whether it’s the right tool for your situation.
Learn more about our Bridge Loan Program.
Offset Mortgage: The First Lien HELOC
The First Lien HELOC is a unique offset mortgage product that combines a first mortgage with a revolving line of credit. Your cash deposits offset your mortgage balance for interest calculation purposes, which means you pay interest only on the net balance — not the full loan amount.
Why This Matters for Sellers
If you’re in the process of selling your current home and expect a large cash inflow at closing, the First Lien HELOC lets you:
- Deposit your sale proceeds directly into the account to immediately reduce interest accrual
- Keep those funds accessible if needed — it’s a line of credit, not a locked-in payment
- Pay down your mortgage faster without giving up liquidity
- Use the available credit line for home improvements, reserves, or other needs
For sellers who are also buying, this is one of the most flexible structures available. You’re not locked into a single use of your equity — you can deploy it strategically over time.
Read the full overview of the Offset Mortgage (First Lien HELOC) →
How I Help Promote Your Listing
When I’m working with you on the purchase of your next home, I don’t sit on the sidelines while your current home is on the market. I actively support the sale — whether you’re working with a listing agent or selling it yourself.
What Listing Promotion Looks Like
Dedicated Listing Website
I can create a property-specific page on The Mortgage Porter that showcases your home with photos, details, and local context — giving buyers a place to learn about the home and the financing options available for it.
Financing Flyers
Buyers want to know what a home will cost them monthly — not just the list price. I prepare professional financing flyers showing estimated payments at various down payment levels, loan programs available, and current rates. These are posted in the home during open houses and distributed digitally.
Social Media Promotion
Your listing gets featured on The Mortgage Porter’s social media channels — reaching buyers who follow mortgage content and are actively in the market. Posts include financing context that resonates with buyers evaluating affordability.
Teamwork with Your Listing Agent
I work closely with your listing agent — communicating on timelines, coordinating the financing side of incoming offers, and making sure buyers who are interested in your home have fast access to pre-approval. A smoothly run transaction starts with a team that communicates well.
Open House Pre-Approval Support
I’m available to be present at your open house to answer buyers’ financing questions on the spot — and to pre-approve interested buyers in real time. For FSBOs especially, having a mortgage advisor available during showings adds credibility and helps serious buyers move forward with confidence.
This kind of integrated support isn’t something every mortgage advisor provides. It’s part of how I’ve served Washington homeowners for over 25 years.
Frequently Asked Questions
Can I buy a home before my current home sells in Washington State?
Yes — and it’s often the preferred approach in competitive markets where you don’t want to write a contingent offer. Bridge loans and HELOCs are the most common tools for accessing your equity before your home closes. I’ll help you determine whether you can qualify to carry both properties temporarily and which financing structure makes the most sense for your situation.
How long does it take to get a bridge loan in Washington?
Bridge loan timelines vary by lender, but in most cases we’re looking at 2–4 weeks to close — similar to a standard mortgage. Our bridge loan pays off your existing mortgage and requires no payments for up to 12 months or until your home sells, whichever comes first. The key is starting the process early, ideally before you’ve identified your next home, so you’re ready to move quickly when you find it.
What is a contingent offer and should I avoid it?
A contingent offer means your purchase of the new home is conditional on your current home selling first. Sellers often prefer non-contingent offers because they carry less risk of the deal falling apart. In competitive Seattle-area markets, contingent offers can put you at a disadvantage. A bridge loan or HELOC can remove that contingency and make your offer more competitive.
How do I estimate how much I’ll net from the sale of my home?
Start with your expected sale price, then subtract: your mortgage payoff balance, real estate agent commissions (typically 2–3% per side), Washington State Real Estate Excise Tax (REET, which is graduated), title and escrow fees, any seller concessions, and prorated taxes and HOA dues. I prepare a detailed estimated net proceeds analysis for clients before they list so there are no surprises at closing.
What is an offset mortgage and how does it help home sellers?
An offset mortgage combines a revolving line of credit to your first mortgage with a savings account so that your cash deposits reduce the balance on which interest is calculated — without locking that money away. For sellers, this means you can deposit your sale proceeds immediately after closing and stop accruing interest on that amount, while still being able to access those funds if needed. It’s one of the most flexible structures for homeowners who are between homes or managing multiple financial goals simultaneously.
Do I need to use the same mortgage advisor for my sale and my purchase?
No — sellers don’t need a mortgage advisor at all unless they’re also buying. But if you are buying your next home, working with one advisor who understands both the departing property and the new purchase creates better coordination, fewer surprises, and a smoother overall experience. It also means your equity strategy and pre-approval are developed together from the start.
Ready to Plan Your Move?
I’ve been helping Washington homeowners navigate the sell-and-buy transition for over 25 years. Let’s build a strategy that works for your timeline and your goals.
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Rhonda Porter | Licensed Washington State Mortgage Advisor | NMLS #121324
