Forgotten Your Password?

Need to Register?

Question Icon

My mom wants to get a home for me in VA and she lives out of the state? Is this possible?

by smith.karin495 from Eagle Rock, Virginia. Sep 23rd 2015 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,044 contributions

Yes.. she would be purchasing it as a 2nd home or an investment.. in either case, the down payment requirements are higher, and so is the rate.. but yes.. she can do it so long as she meets all eligibility requirements.. 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

Sep 23rd 2015
2
0
Steve Myers (steve@MetFund.com)
#31 ranked lender in Virginia - 3 contributions

As William said, it is possible. But, it depends. She would have to qualify for the new property for you in addition to whatever she is currently paying for her current home.I am a broker here in Virginia and can speak to you about your Mom's details. Give me a call 703-622-8218 or email me at steve@MetFund.comMy website is www.MetFund.com

Sep 23rd 2015
1
0
Scott Kinne (Skinne)
#1 ranked lender in Virginia - 68 contributions

Yes, your mom can either buy a home as a 2nd home or investment property per one of the prior respondents, but she might also buy a house with YOU also on the loan as an FHA loan since I assume you will be occupying the property! There are a few options depending on your specific qualifications, such as do you have a job at this time. I am a Lender here in Northern VA and would be happy to answer your questions in detail. Scott Kinne - V.P. - NMLS#182351 - First Heritage Mortgage, LLC - 703-293-6146.

Sep 24th 2015
0
0
Scott Kinne (Skinne)
#1 ranked lender in Virginia - 68 contributions

As a follow up, by going with FHA as your financing the down payment requirement is only 3.5% of the Sales Price, which is much lower than the requirements for 2nd home or Investment property purchases!

Sep 24th 2015
0
0
Subscribe to our news feed.