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Can someone who knows the location thahey are relocating to prequalify for a loan with out a job?

I have worked at the same company for over 20 years and am locating to a different part of the country. I am applying at different jobs and know there that the job market is good in this area of the state.
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November 13 2013 - Fayetteville
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Answers (5)

When you are unemployed, getting a loan can be more difficult---although not impossible. Contact local lenders to determine their lending guidelines. 

There are homeownership assistance programs, homeownership voucher program and public housing assistance that one may potentially qualify.
www.http://portal.hud.gov/hudportal/HUD?src=/states/north_carolina/homeownership/buyingprgms


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February 22
It will cause a major strain in the loan process if you do not have a job lined up. This can possibly prevent you from pre-qualifying. The best thing for you to do is to find a job before you move. Then when you speak with a lender you can show them your offer letter to prove that you will have employment. Either way, I recommend that you speak with a lender like myself that would be happy to speak with you. Well I hope this helps, if you have any other questions or need a loan please contact me through the information on my profile page. I hope this helps and good luck!
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November 13 2013
If you're looking for a baseline, as to how much a lender would qualify you for, given the approximate value of homes in a specific area the answer is yes. Many people are moving out of states that have low to no growth to other states that are booming i.e. Texas, Tennessee, SC, etc. With some careers, the salary is basically the same so you can get a general idea what you will qualify for.

Best of Luck!
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November 13 2013
Good morning, Tweety.
The way I have typically seen it work is that loan approval is conditioned upon verification of employment; an employment letter with a start date before closing is required near the beginning of the process and confirmation from human resources that you have actually started the job is required prior to closing. If you appreciate an answer, please say thanks with a  thumbs up.  
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November 13 2013
Unless you are paying cash, you will need a job to provide the lender with proof you can pay for your mortgage. 
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November 13 2013
 
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