Next, now is a perfect time to be looking for a home as the market has slowed down with the normal seasonal slowdown, but you are fortunate in that the economic disputes in our government has dropped the mortgage rates back down to the lowest rates.
You didn't specify a timeframe on when you would be relocating, with your mother in law being ill. A typical purchase will take you a minimum of 60 days, assuming you find a home within the month...and that is rare with our low inventory. A short sale also gives you a longer cycle so Bob's idea is good there as well for your circumstances. Either way, you can't predict when you will find a home and be in contract so there's no reason to create a delay in your home search after getting your loan paperwork in place. I'd just suggest, with the government shutdown currently in effect at this writing, that you try to get as far as a preapproval, rather than a prequalification, so that you don't experience any unexpected delays with the government shutdown.
It's strange times....go for it, and don't imagine any hindrances. You'll get some but handle them then, when they're REAL. Start with contacting Bob Willett.
First, are you really going to live there? Lenders are very suspicious about applications where the distance between the job and the home are too great. Are you really buying the home for a friend? A family member? A girl or boyfriend? Is this really going to be a 2nd home and NOT your primary home? The loan file will need to address these concerns in detail.
Second, can you do this? The lender will be looking to see if this is a living situation that you can both afford AND can physically do over the long haul. I worked in Stockton for several years, and we did a lot of loans for people that bought in Stockton and commuted to the South Bay Area. The problem is many of these people only did so for a short time because the commute was too much. They either took lesser paying jobs in Stockton â€“ and then had difficulty with the payments, or moved back to the Bay Area trying to keep the Stockton home as a rental. Lenders know this, and the loan file will need to address this issue up-front, or the lender will not look favorably on the loan application.
So get with a good lender, and put the whole story together. If you need my help on this contact me through my profile. Best of luck.
Please contact me and my team can take care of everything. The loan, finding the house and the insurance.
We are ready to work for you.
We look forward to earning your business.
You can contact Evelyne Jamet at Vitek 916-452-8800 or 916-947-8800 for an initial pre-qualification. I can' t imagine she'd say no to your scenario.
Let me know if you want additional help, can send listings, show you homes, once you've got a lender on board. Contact me here or thru my website. GOOD LUCK!
Please give me a call at your convenience. We are a direct VA lender.
Big Valley Mortgage
If u are married and ur spouse works in sac and ur kids are going to school in Sac this will help with the sniff test ( truth or fiction)
We do a lot of VA loans, based on the scenario you described we can help you get pre-approved and come up with a strategy that's comfortable for you. Just give me a call and we can discussed the details!
Yes, you can potentially purchase a property near your mother in-law and commute to San Francisco. While it is a bit of a commute, VA will be looking for a net benefit of you living in Sacramento. In this case, it is to be near your family and provide assistance.
If you have any questions, feel free to contact me via my profile. I specialize working with military families in the San Jose area, and our office is located here in San Ramon.
You may also find that many sellers and their listing agents in Sacramento will not want to accept an offer from a VA buyer, so be prepared to meet rejection. It doesn't mean you can't buy a home, though.
My suggestion is to look at short sales; for example, I sell many short sales to VA buyers. In fact, I am closing a VA transaction in a few weeks, and that particular short sale had dozens of offers, but my seller cared enough to choose the VA buyer. The lender for that VA buyer is Dan Tharp, Comstock Mortgage, 916.257.1470.
There are pros and cons to using VA financing. Also depending on your price range.
If you would like more information feel free to contact me.