Can you purchase a home? Without a secure job?

Question

I have a good job now, and can afford a house payment, but i want to move away to a different state and buy property there, can you obtain financing for a home in a different state using your current income?

Answer 1

I wouldnt do that were I you... you are risking everything, when you already have a sure thing..... Get the job in another state FIRST.. THEN look for housing;.... not the other way around....

Answer 2

Legally, if you apply for a loan knowing the financial information will not be accurate after the loan closes, you are guilty of fraud. If you current employment is in a different state than the home, most lenders will know your current income will not continue.

Of course, you can always buy anything is you have enough CASH up front.

Answer 3

I doubt the lender would use your current income if you are moving out of state. You may have to find a "no doc" loan. Those are the type of loans that the industry is frowning on. You would probably not like the rate and terms of a no doc loan in this market.

Answer 4

If you know you don't have a secure job, I would suggest be careful owning a house, even if you qualify.

Answer 5

i'd guess that you'd have to have a job there, in your current line of work. you can always talk to a mortgage broker about it.

Answer 6

sure you can but it is also call fraud -- obtaining a loan under false known representations so i would highly advise doing it!!!

Answer 7

Yes.

Answer 8

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