Relocating for a job is paradoxical in the context of financing a new home. Many Phoenix lenders require borrowers start their new job prior to loan approval. Unless moving twice is your favorite, this a major inconvenience.
Relocating and Your New Home Loan
The ideal scenario for transplanted families is moving into a new home….ONCE! When lenders require borrowers start their new job prior to loan approval, moving once is near impossible. Instead, this challenging process forces 2 moves:
- Once to their new city and job
- Twice after qualifying for a new home loan
All things considered, this inconveniences the relocated family.
Relocate and Move Once
Two things avoid the chaos and cost of moving 2 times back to back.
- A DeLorean with 1.21 jigawats OR
- A mortgage company with flexible requirements for relocation scenarios
While Doc Brown and MJF is more exciting, Plutonium fuel is hard to come by. However, option number 2 is doable. Find an Arizona mortgage company equipped for relocation’s and make buying a new home in your new state easy.
Loan options exist that do not require relocated buyers start their new job. In fact, by using alternate methods to document the new income pay stubs fro the new job are often not needed.
These options work for same company transplants. In addition, buyer who take a job with a new company and relocate may use these loan options. However, for the latter more detail is needed. Underwriters evaluate these scenarios case by case.
By Jeremy House