I would first try the non occupant co borrower as suggested. If that is not a possibility then you will have to go hard money. I have investors that will give you short term financing and once you find a position you can refinance the loan with out paying a pre payment penalty.

Hi Solin,

Do you plan on getting a job when you relocate? You might want to considering leasing first. If you do a short term lease of 7 months you will not pay a tourist tax and it will give you time to look, get a job and then be able to get a mortgage at market rate. Big investments should not be rushed into until you have your ducks in order.

I have a free service called “Listingbook”, which I provide for my clients. It is like a back door into the MLS which updates daily: price changes, solds & withdrawns, allowing you to really be able to follow and learn the market. I set up a basic search according to your guidelines. Once you are in, you can change the parameters as you need. If this is something you would be interested in let me know.

Sincerely,

Pam Cohn
Broker Associate, GRI, CDM
Prudential Tropical Realty
pcohn@prutropical.com
727-204-7155

You can get a hard money loa but that is expensive. Another option might be to add a non occupying co borrower that can help afford the loan on paper and get you a conventional or FHA loan that has rates lessthan 1/2 of a hard money loan.

I would be glad to discuss your situation and options.


Andrew Kashella
AKashella@TLTLoans.com
727-331-8405

Yes, you can get a hard money loan based upon the quick sale value of the home. I do have private hard money lenders in St petersburg Florida that would grant you a Hard money loan at 10-12% with 5points, as long as you show you have income to make the mortgage payments.