Well..your getting close to your move in a little less than a month or so.
Have you considered using your VA for your purchase?
VA is excellent and offers the following benefits:
*100% financing! (You can put down $$$ if you wish)
*All closing costs paid out our unqiue lender credit!
*No mortgage insurance
In terms of documents I would need:
1. Last 2 years of W-2s and Federal Tax Returns with all schedules & all pages.
2. Last 2 mos of bank statements from all accounts with all pages.
3. Most recent 2 paystubs (covering a 30-day period if paid once).
4. Any IRA, 401(k) or other retirments statements
5. DD214 (we will send for your certificate of eligibility)
I can pre-approve same day and we can get you out shopping. Comparatively speaking, buying is stronger than renting when you compare payments & what you get with renting VS. payments & what you get with buying.
I'm here to help. Mike 916-813-4003 or shoot me an email!
In the very long term, as long as they resist the temptation to refinance and draw out equity, they will have these rental homes paid off in thirty years before they reach retirement age.
Another advantage that you have, buying into our bottomed out market as an owner occupant for two years, is that you get the owner occupant mortgage rate for the entire 30 years even though you are owner occupant for the first two years, only. I think your plan is smart.
If you are only going to be there for two years and then move, why in the world would you buy, move out, and leave your money behind? If you move the furniture, move the money as well.
Please rent Rick. I know that Mary may be wanting to own a home and that is great. But this is not the time. You need to be mobile and non-committed to a property right now. Enjoy your Mortgage free life
You non-agent friend,