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Relocating Borrowers

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sagarthakar Joined: 15 May 2007 Posts: 71 27.67 Dollars($)	Posted: Wed Jan 16, 2008 4:48 am    Post subject: Relocating Borrowers Like 0 Dislike 0 Hello, May I please request to provide indepth information about RELOCATING BORROWERS. Like what VISA Types are eligible for them , what are their eligibility standards for getting a loan. Is there any Federal Law for such borrowers, can anyone please explain or provide any legal documentation for the same Regards Sagar
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Wed Jan 16, 2008 5:16 pm    Post subject: Like 0 Dislike 0 Hi sagarthakar, By "RELOCATING BORROWERS" are you meaning borrower from one state to another state within the country or borrower from one country to another like from US to UK? Best of luck, Larry
sagarthakar Joined: 15 May 2007 Posts: 71 27.67 Dollars($)	Posted: Wed Jan 16, 2008 10:32 pm    Post subject: reply Like 0 Dislike 0 hello larry ... Relocating Borrowers - all those who are moving either from one state to another or from one country to another.... Thanks Sagar
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Thu Jan 17, 2008 6:05 am    Post subject: Like 0 Dislike 0 Hello Sagarthakar, These loans are usually purchase money transactions and have a higher loan-to-value ratio than the other conventional loans. These often involve financial contribution by the employer which might cover the closing costs and the interest rate buy downs. The job stability of the borrower is one of the primary concern for the lender.
ckalvesmaki Community Expert Joined: 28 Jan 2006 Posts: 378 Location: Dallas 56.51 Dollars($)	Posted: Thu Jan 17, 2008 7:17 am    Post subject: Like 0 Dislike 0 Hello, May I please request to provide indepth information about RELOCATING BORROWERS. Like what VISA Types are eligible for them , what are their eligibility standards for getting a loan. Is there any Federal Law for such borrowers, can anyone please explain or provide any legal documentation for the same Regards Sagar Sagar.......your employer must provide you with a work visa....once you have that you will need to apply to be a perm resident alien in order to secure a reasonable mortgage with out a lot of money down.....There are lenders who will write loans for someone on a work VISA but...they require a large % of downpayment generally. _________________ Cedric Kalvesmaki ***Professional Disclaimer*** While I am a Mortgage Professional, this advice is generic in nature only. 888-383-9019 emails and PMs gladly answered www.freedommortgagetexas.com Freedom Mortgage I live in TX but cover all 50 states

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