Relocations
Matt Boytz
September 11, 2023
Relocating for Work? You Can Buy a Home Before Starting Your New Job!
If you’re planning a move for work and need your job income to qualify for a mortgage, you might be surprised to learn that you can actually buy a house and move before you officially start your new job! This can make a huge difference when you’re relocating, offering a smoother transition into your new home and career.
At Bend Mortgage Brokers, we specialize in helping clients navigate employment changes and relocations. We work closely with you to obtain offer information from your new employer and use it as part of your income analysis. As long as your future income checks out, we can help you secure financing so that you’re ready to purchase your new home before you’ve even started your first day at the new workplace. Imagine moving into your new home and settling in—without the added stress of trying to coordinate everything while starting a new job.
One of the additional features we offer, which is especially beneficial during a relocation, is the option to “recast” your mortgage. Let me share a recent example. A client of mine was relocating from Illinois to Oregon. We financed his new home, allowing him to make the move and begin his new chapter. Once his home in Illinois sells, he’ll be able to “recast” his new loan by paying down a large portion of the mortgage. This will reduce his monthly payments without having to go through a full refinance—simply adjusting the payments to reflect the lower balance over the same loan term.
This flexibility gives you the best of both worlds: starting your new job while comfortably settled in your new home, and retaining the option to lower your payments later by recasting your loan, without the hassle of refinancing.
If you’re considering a move for work, let us help you make it a smooth, seamless process. Reach out to learn how we can make your relocation easier and financially smarter!
Have any questions? Feel free to contact me anytime!
- Email: matt@bendmortgagebrokers.com
- Phone: (541) 359-7212
We’re here to help make your transition as stress-free as possible.