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Q&A: How can I get approved for a home loan if I am moving to another state?
Posted on July 19th, 2011 No comments
Question by Gennie Goose: How can I get approved for a home loan if I am moving to another state?
Hi! My husband and I are trying to move to Arizona in the next year and buy a house. This will be my first home. We both work full time jobs in California now. Any home loan advisors out there? Can you tell me how I tin get approved/pre-approved for a full 30-40 year home loan when we have not yet gotten new jobs in the state we’re planning on moving? One thing I heard is if we plan to rent out the property, then we tin get approved for a lend. Please help!
Best answer:
Answer by golferwhoworks
Getting pre-approved is simple. Contact a broker in that state and city where you will be moving. As long as you stay in the same career fields you are in now it should be no problem or you are moving for more $ $ $ in your new job. All loans require collateral, capacity to pay and credit. If whole are good then you will have no problems. Google the yellow pages under mortgage banker/brokers in the city you plan to move.I am a mortgage banker in TN
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Home loan and moving?
Posted on September 4th, 2009 3 comments
Becky asked:
We currently have a home loan on our house, but we just sold. We just recently got an excellent locked-in rate that we hate to give up but we have to move. We found a house and want to put in an offer today. Thing is, with the previous ARM loans we had, we almost got foreclosed on (we pushed on through and never did) and now our credit is not as great as it once was. In a perfect world, we could just use our same mortgage company and they could just “transfer” our loan from one house to the other. In reality, can this happen? Or can something similar happen? My husband was reading about loans, but the brokers use all these words that make no sense to real people and he doesn’t want to get screwed in the end. Anyone know the best way to go in this situation? Any advice at all is much appreciated! Oh, and a loan on the house we want would be a bit lower than our current loan, if that helps.
CODY