Home Buying in 68116>Question Details

Laraine, Other/Just Looking in

We rented out our home in Charlotte, NC that we were unable to sell. Is possible to qualify for a new home loan so that we can buy a home in Omaha?

Asked by Laraine, Sat Feb 9, 2013

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7
John Burke’s answer
Hi Laraine,

It may be easier than you think. If you relocated to Omaha for work or to find work, you can buy a new home with an FHA mortgage and we'll be allowed to count your rental income from your home in NC to offset that mortgage payment which will make it easier to qualify.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust Co.
(877)228-9069
1 vote Thank Flag Link Mon Feb 11, 2013
Laraine,

If you want to explore whether you can get pre-approved for a new home here in Omaha, feel free to contact me. The issue is complex depending on several factors, but we can explore those and work to
getting you into a new home here in the heartland.

Thanks,


Dennis W Clark
402-333-5432
NMLS#13970
Freedom Lending, LLC
dennis@mortgageloansofamerica.com
0 votes Thank Flag Link Mon Feb 11, 2013
Many lenders require you to have 30% equity in the rental home to count the income. I would suggest speaking with a lender for a solid answer. They will do a debt to income analysis to let you know what you qualify for. Call me if I can suggest a lender 402-880-7000
0 votes Thank Flag Link Sat Feb 9, 2013
Once your home is rented, it is considered more of an investment property so you should be able to qualify for a loan if your credit is in good standing.
0 votes Thank Flag Link Sat Feb 9, 2013
Hi Lorraine,

That would depend on your credit scores and debt-to-income ratio. Speak to a mortgage broker who could pull your numbers and advise accordingly.

Good luck
0 votes Thank Flag Link Sat Feb 9, 2013
Celebrity Homes has 4 preferred lenders that could help you. http://celebrityhomesomaha.com/financing.html You may qualify for a new home loan even though you still own a home in NC. The lender can help determine this for you-

If you would like to visit our model homes, please stop out to 6016 S 191st Terrace (corner of 192 & Y Street) I have 3 models here you can tour noon to 6 every day. I have represented Celebrity for over 15 years. http://www.TucsonDLX.com
I would love to help you find the perfet new home to fit your needs.
We build in Gretna, La Vista, Bellevue, Elkhorn & Millard.
0 votes Thank Flag Link Sat Feb 9, 2013
Hi Laraine. It depends on your debt-to-income ratio and the usual qualifying factors such as credit score, etc. It would be best to get with a lender to determine your ability to purchase a home here in Omaha. If you need the name of a few local lenders, send me an email and I will provide contact information. Also, let me know if you would like me to set up a search. I would love for you to consider me when choosing a Realtor to help you through the home-buying process - you won't be disappointed!

Best regards,
Suzan Downing
Keller Wiliams
402-689-0121
suzandowning@kw.com
0 votes Thank Flag Link Sat Feb 9, 2013
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