Dear Mike,
I do not think you will have a problem getting a loan but I recommend that you speak with a mortgage person in so you can know for suret. I can recommend someone if you would like.
We have a lot of condos in the price range you mentioned near Research Park but you could also buy a home with a back yard. In our area, homes are moderately priced and taxes are low so you may be able to purchase more than you expected. Let me know why a condo is attractive to you. If you are not already working with a realtor I would be happy to assist you with buying a home in North AL. I have over 16 years experience and a life time of information about the area.
Let me know how I can assist you.
Sincerely,
Kathy King
Coldwell Banker First
256-337-5793
kathytking@knology.net

Craig LaMar
Coldwell Banker Premier
Huntsville, AL

Hi Mike,
Noticed your inquiry was posted at Trulia on Jan 11, 2008. Have you made your move?
Stay In Touch,
craig@craiglamar.com
Direct Mobile 256-509-6571 http://www.RelocatingToAlabama.com

Unless you or your wife are changing careers, you shouldn't have a problem getting a good loan providing your debt to income ratio isn't high. Lenders are reluctant to lend to anyone who hasn't been in their current line of work for at least two years. So, if you and your wife plan to stay on the same career path, you should be ok.

Hello Mike and regards to your wife as well.

I have been a past lender here in Huntsville and am now a real estate professional. Having lived here over forty-five years now, I wonder as I read your question if this will be your first home purchase? You may possibly review qualifications for VA loans for benefits if applicable. I have helped clients from California in the past who were interested in saving money on a home purchase with a private pool in the backyard.
You may wish to ask lenders about any special loan programs relative to condos. Lenders are the specialists who can best answer your question directly. I can provide you a source of specific names and contact numbers from our website that may be of help to you. I have many helpful links to property and local HUD approved lenders in the Huntsville, AL area.

If you are not represented in your home search, I should let you know that our office exclusively works ONLY with buyers and we never list homes for sale so our clients never run into any possible conflict of interest.

The link below will take you directly to the question you asked.

Exclusive buyer representation 100% for you 100% of the time can be found at Huntsville's largest and oldest EXCLUSIVE BUYER AGENCY - The Buyer's Agent of Huntsville, Inc. We pioneered exclusive service only for buyers in Alabama.

I'd like to encourage and welcome you in your travel to our community. We even have links to airfare and hotels bookings on our website just for people like you. You'll find many kind and knowledgeable lenders in our area. Let me know if I can help you further. Jim Robinson

Mike, taking on new jobs will not be very hard to work around with a lender. With your income, good credit, and money down, you are a lender's dream. Any hesitation at all by a lender would be soothed by the downpayment. There are a ton of programs out there. Money is not as hard to get these days as the national media makes it out to be.

Staying in that price range, there are several condos that may fit right now. If you were willing to make a 20 minute drive, I could put you in a brand new (2,000 sqft) home for not much more.Visit my website for more information below.

Mike, begin your discussions early with some of the local real estate lending agencies in Huntsville (credit unions, etc...) Some of these manage their lowns in-house, are finding some difficulty finding crecit0worthy people to loan to. You may do better than with a larger firm. Thre is no cost or obligation of running through the pre-approval process (except your time). Assuming your jobs have been offered on a stable basis, I would think you will be in very good position to secure a prime real estate loan for your purchase.