Why Your Mortgage Pre-Approval Shouldn’t Be Contingent on Selling—But If It Is, We’ve Got You Covered

In today’s fast-moving real estate market, having the strongest possible mortgage approval can give you a major advantage when buying a new home. If your pre-approval is contingent on selling your current home, it can make your offer less competitive—but that doesn’t mean you’re out of the game!

At BrightSide Lending, we work with buyers in all situations, helping them position their offer in the best way possible. While a non-contingent pre-approval is ideal, we also know that sometimes selling your current home first is necessary. Either way, we’ve got strategies to help you win.

What Does It Mean to Be Contingent to Sell?

A contingent-to-sell pre-approval means your ability to secure financing for a new home depends on selling your current home first. This can introduce some challenges:
✅ Sellers may see your offer as riskier – A seller might prefer a buyer who doesn’t need to sell first.
✅ You might miss out in multiple-offer situations – If another buyer has a stronger approval, they could get picked over you.
✅ Timing uncertainties – If your home doesn’t sell quickly, your purchase could be delayed or fall through.

How to Get Pre-Approved Without a Contingency

If possible, securing a non-contingent pre-approval can make your offer much stronger. Some ways to do this include:

🔹 Bridge Loans – A short-term loan that lets you tap into your current home’s equity to fund your next purchase.

🔹 Home Equity Line of Credit (HELOC) – Using your home’s equity to cover the down payment on your new home.

🔹 Strategic Debt Management – Working with a mortgage expert (like us!) to ensure your income can support both mortgages temporarily.

🔹 Using Savings or Investments – Having extra reserves can help reduce the need for a contingency.

But What If You HAVE to Be Contingent?

Not everyone has the ability to buy without selling first, and that’s okay! If you must be contingent, BrightSide Lending will still help you make the strongest offer possible. Here’s how:

✔️ We’ll work closely with your real estate agent to ensure your home is priced competitively and positioned to sell quickly.

✔️ We’ll get your pre-approval rock-solid so sellers know you’re serious and ready to go as soon as your home sells.

✔️ We’ll explore financing options that might reduce the contingency period or make your offer more appealing.

✔️ We’ll help structure your offer with terms that can make it more competitive, such as shorter contingency windows or stronger earnest money deposits.

A Strong Pre-Approval—With or Without a Contingency

The bottom line? A non-contingent pre-approval puts you in the strongest position, but if selling first is a must, we’ll still do everything possible to make sure your offer stands out. At BrightSide Lending, we help buyers in all situations secure the financing they need while maximizing their chances of getting the home they want.

Let’s get you pre-approved the right way—contingent or not!

No matter your situation, BrightSide Lending is here to help you move forward with confidence! 💪🏡