1st time homebuyer; want to buy my dream home in TX (Dallas area - more affordable housing) while still working %26amp; living in FL until I find a job in TX then I will relocate once I land a job. It is my desire to already have a place of residency there while I job hunt. Are there any mortgage/banks that can help me with this transition?Buying in one state while living in another. Need advice on how to do this.?
TeeMartin,
ur a foreclosurer in the making.
have u read the papers?
1st locate and obtain a job in the area u want
2nd work at the job one - two yrs while Renting and SAVing ur money.
3rd live on less than u make pay off bills.
4th scout out the areas u want to live - the grass isn't always green on the other side.
5th the market is going down thats why my biz is up
6th layoffs are happening even here in TX - can u say 1st in, 1st out?
rent until u are 'secure' in ur field.Buying in one state while living in another. Need advice on how to do this.?
You have to have enough income to pay both your rent AND the mortgage, and be able to prove it, otherwise the loan will be denied.
You will also have to meet second home guidelines.
Saying that you are going to move once you get the house and find a job is not going to work with a lender, because there is no guarantee you will find one.
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