Looking at buying a new home. I don’t want to liquidate any stocks as I try to stay 98% invested. Would like to borrow from the broker about $700,000.
I want to go ahead and buy the new house and then after moving sell my old house.
Currently I don’t have any mortgage. I will then retire the broker note.
I can’t imagine it taking more than six months total. Even if the real estate market gets bad.
Has anybody ever done this type of transaction. I have several brokerage accounts they all have more than seven figures.
I’m not concerned about any margin call issues. I just want to be able to do a bridge loan for a short period of time.
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