Many homeowners in Roanoke, Virginia want to move up to a larger or newer home, but aren’t sure if they actually have enough equity to make it work comfortably.
The good news? You may need less equity than you think, but the right amount depends on your goals, timing, and mortgage strategy.
As we head into 2026, here’s how Roanoke homeowners should think about equity when planning their next move.
What Home Equity Really Means for Move-Up Buyers
Home equity is the difference between:
- What your home could sell for
- What you still owe on your mortgage
That equity can often be used for:
- Your down payment on the next home
- Closing costs
- Lowering your monthly payment
- Strengthening your loan approval
The key is understanding usable equity, not just estimated value.
How Much Equity Do Roanoke Homeowners Typically Need?
There’s no single number, but most successful move-up buyers in Roanoke fall into one of these ranges:
10–20% Equity
- May cover a down payment with careful planning
- Often paired with FHA or low-down-payment conventional loans
- Requires tight coordination and strong credit
20–30% Equity
- Comfortable range for many move-up buyers
- More loan options available
- Better monthly payment flexibility
30%+ Equity
- Maximum flexibility
- Easier buy-before-sell options
- Strong negotiating power
Your comfort level matters just as much as the percentage.
Equity vs. Cash on Hand (This Is Important)
Equity and cash are not the same thing.
Even with strong equity, you may still need:
- Earnest money
- Inspection and appraisal costs
- Moving expenses
- Temporary housing funds (if applicable)
A smart plan balances equity use with cash reserves, not one or the other.
How Your Next Home Price Changes the Equation
The amount of equity you need depends heavily on:
- The price gap between your current home and next home
- Interest rates at the time of purchase
- Desired monthly payment comfort
For example:
- Moving from a $300,000 home to a $400,000 home requires a very different strategy than moving to $550,000.
This is why personalized planning matters more than online estimates.
Should You Use All Your Equity When Moving Up?
Not always.
Many Roanoke homeowners choose to:
- Keep some equity in reserve
- Avoid overextending monthly payments
- Maintain flexibility for repairs or life changes
Using every dollar of equity isn’t always the smartest move – even if it’s possible.
Why Getting Pre-Approved Early Makes a Big Difference
A true mortgage pre-approval helps you:
- See multiple equity-use scenarios
- Compare selling first vs buying first
- Understand worst-case payment overlap
- Avoid surprises late in the process
This clarity often brings peace of mind before listing your home.
Is 2026 a Good Time to Use Equity to Move Up in Roanoke?
For many homeowners, yes.
Why:
- Equity levels remain strong
- Buyer competition is more balanced
- Sellers are more flexible
- Inventory options are improving
The key is not when you move—but how prepared you are when you do.
Wondering If You Have Enough Equity to Move Up?
If you’re considering selling your home and moving up in Roanoke, the smartest first step is understanding your equity and options before making decisions.
I help Roanoke homeowners:
- Estimate usable equity
- Compare move-up scenarios
- Plan timing strategically
- Get fully pre-approved
👉 Let’s look at your numbers together before you make a move.
Jonathan Sweat / The Legacy Team of Integrity Home Mortgage
Loan Officer | Roanoke, VA
NMLS #308553
540-314-8843 | Email – jsweat@ihmcloans.com
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