Which should be first? Refinance our primary home or purchase a new home?

[Stephanie Joe]

Hi Folks,

Here is our situation: My husband and I have a 6.75% 30-year fixed rate mortgage on our primary home; thus, we signed a contract on purchasing a new construction home last month, and the construction will be completed by the end of the year. 

Both of us work W2 jobs for years with good tax returns and 780+ credit scores. We are am planning to move to the new home and rent out our current one. We have heard that some lenders provide both refi and new loan at the same time. If not, we are looking for 30-year fixed rate mortgages for both properties, which should we get first? Refi or New home loan? 

Thank you so much :)

-Stephanie