Would a preapproved mortgage from Missouri work in Illinois if trying to purchase a home in IL or do I have to get my mortgage in IL ?
I live in Saint Louis MO, but I plan to move to Chicago land at some point soon. Since a seller would be more intererested to work with buyers if they had a preapproved loan with them, it makes sense to get a preapproval from a lender. Can I work with a lender in Saint Louis to get a loan to use in Chicago or do I have to get a loan in IL to use in IL?
Be careful you could be approved in one state however not licensed in another state. Recommend work with mortgage broker in that area.
Letters are valid for approx. 60 days, confirm you are ready to purchase without having return to pre-approval process will lower your scores.
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911
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