If you live and work in Minneapolis, then you would have to purchase a home there as a Primary Residence. In order to purchase a Primary Residence, that home must be located within a reasonable commuting distance of the home. That is typically within a 50 mile radius. It must also be where you spend the majority of your nights each year.
A home in GA would have to be purchased as a Second Home/Vacation Home. You would have to qualify with both your Minneapolis and GA housing payments in addition to your other debts.
If you are looking to purchase a property, working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your mortgage options. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.... more
Natalie, another option that no one seems to have mentioned yet is a lease-purchase. If you can find a seller who's willing to work with you for a time while letting you rent the property and get used to living there, then it might also provide you with an opportunity to find the right house now. In addition to my real estate team handling sales, we are also investors, and we would certainly welcome someone in a property of ours who could afford that high a monthly payment and eventually purchase a home. Please find my contact info on our website below if that option would interest you--and good luck in your search!
The BBG Team