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How do I prepare to relocate from NJ to NC? Will I be able to get a mortgage?

by tom44 on May 12, 2013

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Question by Melissa T: How do I prepare to relocate from NJ to NC? Will I be able to get a mortgage?
My husband and I will obtain new jobs prior to moving. Since we are starting new jobs will we have to be there two years before we can get approved for a mortgage?

Best answer:

Answer by Mark C
No, I just did this, in fact contact a local bank in NC ahead of time and introduce yourself. The bank used all our income from NY to qualify us.

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4 thoughts on “How do I prepare to relocate from NJ to NC? Will I be able to get a mortgage?

  1. Spock (rhp) says:

    of course, current mortgage market conditions want a minimum 20% down payment and FICO score of 750 or better.

    yes, a few programs and loans are still available for less qualified couples, and you’d best expect that those will be expensive on interest rate.

  2. Mortgage Man says:

    You should be fine. All you have to do is find a broker or bank that’s licensed in the state of N.C. Get a letter from your new employers showing when your starting work, and how much you’ll be earning. As long as your in the same field of work, you should be more than fine. You might even be able to find a mortgage broker in NJ that’s licensed in NC, and you can’t buy your house before you even move. Also, if you’re looking to put minimum down payment, ask for an FHA loan. You can put down a minimum of 3%, and still get a rate in the upper 5’s, lower 6’s with a 580 score!

  3. Renovation Specialist says:

    Hi Melissa,
    It’s unbelievable what some people think they know. When they don’t have a clue as to whats available. “Mortgage man” is correct I can qualified you on FHA, Home opportunities, Freddie mac 100 and a verity of other programs we have available. I can assist you with getting pre approved for a home loan. As long as you can show that you’ve been in your profession for at least two years, you should be fine. I can assist with financing in all 50 states. Give me call sometime so we can discuss your options. My office number is 678-473-6776. Your not required to put down a minimum of 20% on the home and you don’t need a credit score in the 700 to qualify.

  4. JEFFERY D says:

    Good finance question! I know of an organization that gives up to $ 1500 to people to help them with their rent or mortgage. It’s available in most US cities, I highly suggest you check it out.

    Best of Luck.

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