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Looking to relocate and purchase out of state. Can I show an employment offer letter as proof of income

by kiera99935 from Jacksonboro, South Carolina. Feb 17th 2016 Reply


Michael Rappaport (mrappaport@unitedmortgage.com)
#56 ranked lender in South Carolina - 9 contributions

A relocation letter is required for financing. The letter will be verified and prior to close a paystub will be required. Happy to lend in any state you're moving to and educate you about many other guidelines. - Michael Rappaport (mrappaport@unitedmortgage.com) UNITED MORTGAGE

Feb 17th 2016
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Jay Spurlin (CFCMortgage)
#46 ranked lender in South Carolina - 24 contributions

Yes. You can also purchase a property as a second home based on your current employment. Give me a call when you have a few minutes. We can go over some options and see which one fits best... (803) 900-0090 - Jay

Feb 17th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

As a start, yes, but the lender will require you are actually working at the new job and have received at least 1 paycheck before they will close.. Also, your employment must be consistent in the same line of work that your currently in for at least 2 years.. Others suggested that you can purchase as a 2nd home so long as you are currently employed, however, if your intent is to move out of state for new employment and moving into this new home, then you would be committing loan fraud.. and that's not good, so I would avoid going down that path.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Feb 17th 2016
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Justin Murray (JustinMurray)
#102 ranked lender in Illinois - 172 contributions

Yes, we will accept an offer letter as long as it includes the start date and the annual base compensation. Thank you, Justin Murray / JMurray@WintrustMortgage.com / 312-256-4065

Feb 17th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Generally speaking, an OFFER letter is OK to start the process, and maybe make an offer on a home, but for final underwriting, you will need to actually be working at the company and be able to show paystubs from the new job. If it is a guaranteed contract, then you do NOT need to actually start working. Almost everyone only has offer letters.

Feb 18th 2016
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Jesse Stroup (jessestroup)
#199 ranked lender in California - 591 contributions

The letter will need to be submitted into processing and underwriting and maybe a first pay check. Talk to you local Mortgage banker or broker on what they need to approve your loan. I hope this helps.Jesse Stroup | Mortgage Banker | California NMLS# 6229 | 510-704-3445 Please contact me for more information.

Mar 14th 2016
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