Home Buying in 22554>Question Details

Linda Mornot, Home Buyer in Stafford, TX

if I'm pre-qualified in boston, ma and I want to buy my home in stafford, va how would that work?

Asked by Linda Mornot, Stafford, TX Mon Dec 29, 2008

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I "second" the answers below. It's not difficult, with the internet and cell phones, to contact a local lender and would only take a short time to be pre-qualified. And remember that you're not locked in to that lender...you still have the opportunity to shop around before doing a full-blown loan application. Welcome to Stafford!
0 votes Thank Flag Link Tue Dec 30, 2008
Linda-as others have said it will depend on whether your current lender is licensed to do business in Virginia. With rare exceptions I always suggest that a buyer use a local lender. Besides being able to have personal contact and being able to meet with them face to face, I've found that out of state lenders often don't understand local market conditions and appraisals can become an issue. If you need assistance in the Stafford area please feel free to give me a call. I work in the area and would be glad to put you in touch with a lender and assist you with your search.
Web Reference: http://cindyjoneshomes.com
0 votes Thank Flag Link Tue Dec 30, 2008
Linda - Wow. It will seem warm to you here! Although it's possible to use an out of state lender, I'd suggest using someone in the state if possible. There are so many variables with different regions. An in state lender can advise you of local programs that you may be able to take advantage of, especially if you are a first time home buyer. And, out of state lenders sometimes have more stringent loan requirements on purchases because of management cost issues and unfamiliarity with the marketplace. I don't work in Stafford, (I am in Loudoun/Fairfax Counties) but I have a couple of great colleagues that do. If I can refer you to a real estate agent in that area (who can, in turn refer you to some of the best lenders in the area), please contact me at vchrisner@kw.com
0 votes Thank Flag Link Mon Dec 29, 2008
Ask your current mortgage broker if they are licensed to do business in VA, if not you need locate a loan officer in VA who can handle your loan. Once you are qualified does not matter state you purchase a property however need a licensed broker for that state.

GREAT QUESTION
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Mon Dec 29, 2008
Depends, are you working with a direct lender...i.e. Chase Bank? The main concern would be if the lender is licensed in the state of VA, if not, you'll have to work with someone else. Otherwise you should be able to work with your current lender.
0 votes Thank Flag Link Mon Dec 29, 2008
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