A Complete Guide to Buying a House Out of State
Relocating out of state is an exciting experience for many. Buying a house and opening a mortgage with an out-of-state property doesn’t have to be as complex as it seems.
Mortgaging out of state can be simple if careful planning is done prior to buying, and when each stage of the buying process is clearly understood. Here are some tips for buying a home out of state.
Familiarize Yourself With the Area
It’s important to familiarize yourself with the area you are moving to. Catch up on the local news, visit the area's website, and learn as much information as you can about your future neighborhood.
Exploring Google Maps can be helpful as well, especially if your new home is quite the drive away. This can also help familiarize yourself with any surrounding schools, parks, shopping centers, and other social necessities that you are looking for in your new state. It’s a good idea to get as familiar with your new area as possible to better determine if it’s the best fit for your needs. Remember, it’s better to do too much research than not enough.
Get a Referral
Speaking to a trusted real estate agent in your current neighborhood is beneficial when looking to move out of state. Your current area’s agent may have a referral in your new area that can help you with mortgaging your new home. It’s best to get advice from someone you trust, especially when moving to a brand new area. Getting referred to a new real estate agent by an agent you already trust also ensures that you get an experienced agent that will provide the best buying experience and advice for your new home.
Relocation Specialists
Before moving out of state, it may be a good idea to seek out a relocation specialist to help you through the moving process. Having someone experienced with relocation by your side during a big change in housing is important and provides reassurance of choices made along the way throughout the process.
Relocation specialists can help you find a moving company, organize travel plans for you and your loved ones, manage contracting work for your new home, find local service providers, and do many more helpful tasks! The relocation process doesn't have to be difficult and you do not have to embark on it alone. Utilizing a relocation specialist is very common amongst out-of-state mortgaging, especially when completely new to an area.
Online Convenience
Consistent and smooth communication with lenders when moving out of state is crucial to keeping as many obstacles out of your path to your new home as possible. Looking for a lender who offers various online communication services, as well as an online mortgage application portal can help this process go seamlessly.
Finding a mortgage lender who efficiently responds to emails or phone calls is helpful as well, as long as the information and assistance they provide is beneficial. Any answers given that are both timely and accurate increase buyer to lender trust and create a significantly easier buying experience when moving out of state. Communication is key!
Contact Us
At Equity Mortgage, we work with a variety of clients with varying degrees of mortgage needs. We offer our clients alternative options to their current loan programs with our wide range of mortgage products and flexible lending practices.
Experience fast, professional service for coronavirus mortgaging today and into the future. Contact us for more info or give us a call at 1-800-332-9221.
* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.