5% Down on my next primary while still living in current primary?

[Peter Kehr]

Hello again BiggerPockets!

I have a newb question. I'm currently living in a condo and will be selling soon. My next primary will need a lot of work as I am wanting to invest in the rehab of it through a HELOC on my condo - all the while still living in said condo as my primary while the rehabs get completed (sorry if that's redundant).

My question is, would a bank let me put 5% down on my next primary while still living in my current one? Would a bank work out a deal with a customer that says "hey, we'll let you pay 5% down as long as you sell your condo on completion of your next home's renovations"?

Make sense at all?

Thank you!!