Do My Closing Dates on My Sale & Purchase Have to Match Up?

Author: Boychuk Mortgage Group |

Not necessarily!

  • Ideally, you would want to close on the sale of your existing home before the completion of your new purchase as this allows you to receive the funds from the sale of your home to put towards the down payment on your new purchase.
  • In cases where the sale of your current home takes place after the completion of your new purchase and your down payment is coming from your sale, bridge financing will be an option that helps you bridge the gap of your down payment between purchase and sale closing dates.