How easy is it to get a mortgage in another state?

We currently live in MO but want to move to TX in two years. We plan on my spouse getting a job before we move and me after we move.. we don't have the best credit (bankruptcy will be 3 yrs. discharged at that point) but we are working on rebuilding (credit score somewhere in the low 600's, by my guess). We will have no credit card debt and only one car payment. How do you get a loan when you are moving and do they care about not having a job right then or do they go by your past income?How easy is it to get a mortgage in another state?
Its going to be pretty hard to get a mortgage without a job. I'd say almost impossible.





You could get a ';no income, no asset'; verification loan...but you are going to need a very large downpayment and you are going to pay through the nose.





You will probably need to rent for a bit of time when your husband gets to Texas. While you are still in MO, save as much as possible.





Also, when you husband gets to TX, if he gets a job in the same field, the lender may consider the new job as a continuation of the current one. (which will make it a bit easier to get a mortgage.)





Overall, you are doing a good thing by trying to plan 2 years into the future.





Keep your debt level modest...one car payment is good. Save money...and don't get yourself into credit trouble.





Good luck.How easy is it to get a mortgage in another state?
If he has a job before you move and it's in the same field of work he's been in for the previous 2 years it shouldn't be a problem.
If you already decide to move TX, you should start to shoping for real estate, it is not easy to find right place after than you worry about mortgage,





You can have bad credit but almost all lender has programs fit to your situation, if you have 620+ credit you can buy as second home, if you think you can pay the mortgage payments,





Buying home is good idea now because of the prices, you can negotiage mare than before, yes rates are higher but if you chose 3 or 5 year arm product when the rate start to go down your rate will be better.





I say Go buy now...





And if you need mortgage in TX www.donklement.com tell Mr. Klement I give his name he will be hapy to help you to have your mortgage and you new job....





Good luck





Koray
Hello -





Did you know that you can qualify for a home loan one day out of bankruptcy?





You might want to consider buying a home now, and establishing a good payment history with a lender. That alone in 2 years time would increase your FICO scores.





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