Friday, January 8, 2010

Colorado Interest Only Loans Recently Purchased First Home And Moving To Another State?

Recently purchased first home and moving to another state? - colorado interest only loans

I bought my first house a few months ago and moving to another state because of a better job offer. I know that the experiment can not sell my house in my best interest and he did not succeed, but if I - no payment penalty on my loan.

My question is: Should I sell my house (they have about $ 25K in equity), or the rent and trying to design a second home in the new government to buy? Can I have a second home for this first purchase? I was told that I be able to as long as I should rent first try. Is that correct?

I go back and forth to the sale, because if the work does not work, then I always have a place to return if necessary. If it would help to give your answer - I currently live in Texas and will travel to Colorado.

I prefer answers from people with mortgages / real estate lending experience.

2 comments:

CJ said...

If you can come back, you keep it. Hopefully I can large mortgages (purchase, and so I would think would be suitable, Texas is still low price, if you should cover your mortgage is relatively small). And Texas, is a lengthy, but the value of the property is increasing.
Before you go, you can also use the interview itself and the tenant, which is good, rather than to find a management company of the property, too.
Your loan for your new home (as there) live is obviously a loan principal residence, so that Wold set to release a lender, the two. They have already closed escrow account in his native Texas as a primary, then yes, you need a lease of some kind before, leaving the insurer to the bank to resolve it. (Certainly you have in your favor that you speak the truth in all this, most investors to jump including me, and insane double throughhoops loans in other states and owner occupied clauses, etc..) They also show havet had Evidence of work in the state of the primary endCO at home.
In general, however, be willing to be the most expensive of the two houses has his principal residence (within the eye bank). You have to go it with a loan officer (an intelligent and talented, you know what you're talking about).
The $ 25k in equity may not be as much as you think. Once you sell less than 6% in broker fees and another $ 2k or so (I am not familiar with the title fees TX) vendor, the cost of installation.

pleasean... said...

Never sell your property if you decide to return. Life is not always greener in the city.

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