Anyone has experience buying a house out of the state where you work and currently live now?

we are looking into the option of purchasing in OR or AZ because it's more affordable. Can we do that? Will we get a loan for that?

You might get a better response if you post this somewhere other than an immigration newsgroup!

Ian

cj,

It'll be a hell of a commute.

Regards, JEff

Yes and Yes

Try posting in the USA forum of British Expats. Home purchase issues come up in that forum from time to time.

Don't have the answers but can't say I blame you. We have just been outbid on the 6th house and we went in $175K over asking price. I am so pissed off, I want to go home.

Yes and yes.

We bought a house in North Carolina while we were living and working in
California. I thought it might be a problem but turned out it really wasn't.

I was most concerned about qualifying for the mortgage since it seemed
obvious that we would not be able to keep the same jobs and same pay. In
fact they never even asked about that...they just ran it as a normal home
loan application and we documented all our income and down payment $.

I will add that we put down a substantial down payment and had excellent
credit. Also my job is actually the same here in NC as it was in
Cali...since I work for the US Gov't I just transferred. However they did
not even ask about that or proof that I had a job lined up here.

So it is doable. We did it and moved 2742 miles!
"cjcherri" <member12519@british_expats.com> wrote in message
news:[email protected] m...
    > Anyone has experience buying a house out of the state where you work and
    > currently live now?
    > we are looking into the option of purchasing in OR or AZ because it's
    > more affordable. Can we do that? Will we get a loan for that?
    > --
    > Posted via http://britishexpats.com

Some banks and credit unions only do loans in-state, so you might have to look around. Also, check the tax situation first - you could get a nasty surprise (if you want that really long commute). For example, CO taxes CO non-residents much more than CO residents on property.

Rent till it crashes. Won't be long now...

Do you really think it will??

Where we live things are still rising at an incredible rate

New and used

Wonder where the people come from??

I know I am a foreigner, but the rate of new comers is quite incredible

PD

OH MY GOD :scared:

Divide the cost of the house you'd like to live in by your gross household annual salary! A pleasant figure should be under 3. It’s stoopid!

CA is for the extremely rich or extremely poor at the moment. The rest have all moved east and are fuelling increased property prices in their wake.

Friend of mine is moving to CA in the summer with her husband a 2 kids

Company paying rent

HUGE allowance, thought Texas was bad

$4500 for a smallish 4 bed

Cheap by CA standards, totally scarey

Lets not talkk about school fees :scared:

Yup, don't buy! Get saving for a nice deposit when the crash arrives. Almost all new loans in CA are ARM based, so the market will collapse when interest rates rise rather than go dead.