Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for Piperdave51

Can I get pre-approved for a mortgage pending an interstate relocation?

I am retiring with a $40,000 pension and plan to attend school full time to pursue another career. I will sell my home here and plan to move from New York to Georgia and my credit rating is 800+.
  • October 23 2011 - Peachtree City
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (2)

I would suggest you contact a lender there in Georgia so you have a better idea what is involved in moving from one state to another. There are guidelines for getting a mortgage. The lender is the specialist in getting the funds for a home in today's market. They will know what is required now in purchasing. Once you get all the details, you will have a better understanding what needs to happen to move from state to state. It's better to know the details so make some calls. You can find lenders there through your local bank. They should be able to get you a referral. You can also google lenders for the region you will be relocating to. It's free and easy to go through the details with them. Thank you for your question.
  • October 23 2011
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You can apply for pre-approval for a home in Georgia.  A bank will typically look at your debt-to-income ratio, the loan to value of the home you are seeking and if, during your time attending school, will you be receiving an income stream to support the mortgage amount on the home you are interested in.  These are a few of the parameters a lender will look at.  Another option given the market we are in would be a lease to own or purchase contract as there are many motivated sellers in the market today. 
  • October 23 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.