Your family grows. You find a new neighborhood. You have new ideas about your living space. You just got that well-deserved promotion. Any number of factors can compel you to buy a fancier, more expensive home. And if you're relying on a home to augment your retirement nest egg, upgrading to a more valuable house can serve you well in the long run.

Most people buy and sell multiple homes over the course of a lifetime to find the properties that meet their current needs. When moving up to a larger house, many of the same considerations come into play as when buying a first home. Approaching the transaction with a strong financial base is a must. If your finances are unpredictable or a little shaky, the risk of moving up may be too big. Make sure you're comfortable with what likely will be larger monthly payments for your mortgage, property taxes, insurance and utilities.

Your financial position will be reviewed by lenders, too, to ensure you don't exceed the maximum debt-to-income ratio. And just like when you bought your previous home(s), your credit score will play a primary role in how much you'll ultimately pay for your mortgage.

Another consideration is whether you can sell your current home for a price that allows you to upgrade homes. Depending on market conditions in your area, your upgrade may not happen as quickly as you'd like.

When it does happen, though, we offer an array of mortgages that will help you step up, including fixed mortgages, ARMs and jumbo loans.