can i get a mortgage in a city i don't live in yet?

Asked by Hdkramer, Rockford, IL Sun May 1, 2011

My husband is graduating from school in June and we are planning on moving to another City, where I am not going to work. Our mortgage person told us that we would have to have a pay check from that city before we closed on our mortgage. Is there anyway to get a mortgage closed on before we move and he starts his job?

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Cecelia Marl…, Mortgage Broker Or Lender, Chicago, IL
Thu May 5, 2011
I think this depends on several factors:
1. Is the mortgage in your name or both of your names?
2. Will you still be working with the same company when you move?
3. Does your husband have an offer letter that states what his new income will be?

All these are probably questions your lender should be asking as it will play a role in your qualification. Typcially a Verification of employment is completed that asks is employment likely to continue at the beginning of the process. If the answer to this is no. That could pose a problem. Also, within 48 hours of closing a verbal verification of employment is completed again. I think your current lender may be taken some precautions, but they need to give you the full picture so you can position yourself appropriately.

Cecelia Marlow
Chicago Bancorp
Mortgage Banker
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Brent Kluge, Mortgage Broker Or Lender, Baltimore, MD
Wed May 4, 2011
Yes, you can do this.... sometimes lenders give the silliest answers... hahaha

feel free to call. ;)

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Ken Redeker, Agent, Rockford, IL
Sun May 1, 2011
It depend upon how far you are from your job as well. If the distance from your home to your job is considered within a reasonable commute distance everything can work out. The best thing to do would be contact a lender and be up front with them about the changes in your live.
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Charles Roos, Agent, Rockford, IL
Sun May 1, 2011
Usually you have to have a check from the company that is employing you, or in this case your husband, to close on a loan. Depending on the circumstances, and the job your husband has, some banks will consider using the contract your husband signed and just make him actually be on the job for one day to close on the mortgage. My wife is a mortgage lender at US Bank. You can try contacting her at 815-987-3821 and get more specific information. Charlie Roos
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