Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply
Timing of primary and secondary homes purchase?
Hi,
I'm a first-time homebuyer. I'm planning to buy two properties -- one primary and one secondary. I'm splitting the capital between these two properties with 20% down each.
Since my primary home is new construction, although I can sign a contract now (after pre-approval), it takes another 6-8 months to get closed. Meanwhile, I planned to buy a second home in a different state. The second home is a resale property and is most likely to get closed before the primary residence.
Should I time it differently? By the time, my primary residence is about to get delivered there is also a change in credit so my loan approval criterion may change drastically. I planned my budget such that overall DTI is under control even with two mortgages but the lenders may have different rules.
Any suggestions? I don't have an option to do it in a different way. Like closing primary first followed by secondary home.