Moving Up or Downsizing: Smart Strategies for Getting the Right Purchase Loan Introduction

Whether you’re upsizing for more space or downsizing to unlock equity and simplify your lifestyle, the home you choose next should align with your goals—and your financing should reflect that. Here’s how Atlantic Avenue Mortgage helps seasoned homeowners make smart moves with purchase loans.

Upsizing: More Home, More Strategy

• Conventional Loans often make sense if you have strong equity or don’t need government backing
• Jumbo Loans enable financing above conforming limits (up to $2.5M or more) without private mortgage insurance 
• Bridge loans or simultaneous closing options may facilitate a smooth transition

Downsizing: Equity, Cash Flow & Flexibility

• A purchase loan paired with sale proceeds can fund your next home and eliminate debt
• Cash-out refinance before purchase in certain cases—though in most scenarios, prepping proceeds makes sense
• Combine with a reverse mortgage purchase if you’re 62+: access equity, eliminate mortgage payments, and stay mortgage-free long-term 

Key Considerations for Move-Up or Move-Down Buyers

1. Timing your sale and purchase to avoid carrying two mortgages
2. Equity evaluation—know how much of your home’s value is available after realtor fees and closing
3. Loan eligibility factors, including credit, income, and occupancy plans (e.g. second home, investment property)
4. Closing cost planning—cover appraisal, inspection, insurance, title, and broker fees

Why Atlantic Avenue Mortgage Stands Out

• Access to jumbo and conventional lenders with flexible underwriting for move-up buyers
• Expert coordination and advice for combining sale and purchase seamlessly
• Guidance through reverse mortgage purchase options for eligible seniors—helping you stay debt-free with no monthly mortgage payment 

Case Highlight

Consider a Delaware homeowner in her late 60s who sold her family home, then used a reverse mortgage purchase to buy a smaller home debt-free. No monthly mortgage, and equity growth continues—while preserving her savings.

Thinking about moving up or downsizing? Give us a call. We’ll help you weigh your options—whether conventional, jumbo, or reverse mortgage purchase—and guide you to the loan that makes your next chapter smooth.