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If I want to purchase a second home in another state, do I need to consult a lender from that particular state?

by OGregg from Covington, Louisiana. Apr 10th 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

You don't have to, but I would advise you do use someone local to the state your looking in.. local brokers are familiar with the local customs and intricacies associated with lending in that state/county, so it would make your financing experience less troublesome.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 10th 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

No, as long as the lender or broker you contact is licensed to do business in the state you are looking to buy it doesn't matter where they are physically

Apr 10th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

A local lender, who is also licensed in the state where the second home is located, will be able to help you.

Apr 10th 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

You need to contact a lender who is lic. in the state of the purchase, I can help you. www. HOMEMORTGAGEXPERT.com 855 411 LEND give me a call Peter Savino

Apr 10th 2013
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Edgar DeJesus (EdgarDeJesus)
#197 ranked lender in Florida - 10 contributions

Absolutely not, however I recommend you make sure the mortgage professional you consider using is individually licensed. What state are you considering purchasing a home in? For more information feel free to visit us at www.thedejesusgroup.com.

Apr 10th 2013
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Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

The lender that you are working with just has to be licensed in that state.

Apr 10th 2013
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Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 198 contributions

Yep...everyone is giving you correct info., contact one of the lenders on Lender411, in the state you want to purchase by clicking on "Find a Lender"

Apr 10th 2013
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James Mazzola (Mazzola)
#110 ranked lender in New Jersey - 313 contributions

NO. As long as you lender can lend in the State you are buying in, you are OK. We are a Federal Chartered Bank. We can lend in any State. Contact me: Jim Mazzola 732-501-4249

Apr 11th 2013
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Craig Prickett (cpmtgnow)
#159 ranked lender in Florida - 97 contributions

Yes or a national chartered bank works

Apr 11th 2013
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