If you have a relocation package and are working with a relocation company, an EQUITY LOAN may be part of the offering.

The relocation company may be willing to loan you a certain percentage of your equity once you have a signed offer on your current home, which could be useful in terms of managing the finances of the purchase of a new home, at least if this is happening simultaneously. Trying to buy a new home while you are selling your old one may, financially, be a challenge, and you will need to work closely with your lender to understand what you are approved for if your old home has not yet closed. You may or may not be able to make an offer on a new home until your old one has closed.

Some folks can afford to carry two mortgages, but many can't. An equity loan, if it is part of the relocation package from the relo company , may help you navigate this transition.

Make sure you understand what your new employer, and your relocation company, are offering to help you through the transition so you understand your options.

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