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What Are Qualifying Tips For A Relocating Buyer?

ANSWER: The number one tip is - do not pack your personal papers! Mortgage loans are very precise and require documentation furnished by the borrower. I suggest keeping your financial records with you until your new loan closes. You may also be prepared by knowing the exact details of your relocation policy.

These are a few of the items your lender will want to know:

Will your company buy your present home or issue an equity advance?

If your home does not sell, will your company make the payments for you until it does sell?

Will your company pay your closing costs on your purchase? If so, will they advance the funds or reimburse you after closing? It is important to keep copies of any advance checks you may receive as well as all documentation on your move. It is much easier to keep all this documentation handy rather than to try to find it when you are trying to close. Good luck with your move!