Financing in 02127>Question Details

kkellyjohn, Renter in Boston, MA

Can a property be refinanced in the USA if living long term overseas?

Asked by kkellyjohn, Boston, MA Wed Mar 20, 2013

I have a property in Boston and wish to refinance now as my equity line is drawing to end of term (Wells Fargo). We used this to purchase the property in the first place. The property is rented. I am a US citizen and file taxes in the US.

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9
Heath Coker’s answer
I would contact a local lending professional to help with this answer.
There is not enough detail in your question.

I know this guy can be helpful: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell


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0 votes Thank Flag Link Wed Mar 20, 2013
Yes you can. Check with a lender to see what you will qualify for.
0 votes Thank Flag Link Sun Mar 9, 2014
Talk with a mortgage broker. Rules change frequently. Some banks offer programs that other s do not.
0 votes Thank Flag Link Mon Jan 6, 2014
Hi Heather,

I would for sure ask a mortgage lender. They would know the guidelines. Call me and I will get you hooked up with a lender. Direct 617-797-9679. Good luck!
0 votes Thank Flag Link Mon Jan 6, 2014
Yes you can. Since you no longer occupy the property it would have to be financed according to investment property guidelines. So long as the home appraises high enough and you qualify it shouldn't be a problem.

Feel free to reach out if you'd like to review some interest rates and financing options.

Tony
0 votes Thank Flag Link Wed Mar 20, 2013
Yes you may but it will be with non-owner pricing which is a bit higher.

You will also most likely need more equity. We do have programs that can do the mortgage even if you are upside down though.If you would like to contact me I can look up your house and tell you if you are eligable.
0 votes Thank Flag Link Wed Mar 20, 2013
I don't forsee a problem as well but your bank/mortgage broker would be able to help you out with that.

Best Of Luck
0 votes Thank Flag Link Wed Mar 20, 2013
of course it is possible.
Please consult a mortgage broker.
Please let me know if you need a recommendation.
Kind regards,
0 votes Thank Flag Link Wed Mar 20, 2013
I beleive you should be able to refinance but you definitely would want to talk to a mortgage lender. Each lender has different guidelines and you just want to make sure that you speak to a few of then so that you fully understand your options.
0 votes Thank Flag Link Wed Mar 20, 2013
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