[vaultingcowgirl]

We are moving to Arkansas some time in the near future. Not sure what area. The ozarks are very temping. Here is our delema that I cant seem to get a straight answer from anyone! We have never bought a home before, we currently live in colorado and have rented for years. We are ready to buy!!! I know I can get approved for a home loan, thats not the problem. I just dont know if I can buy a home in a state that I havent lived in before, Since I will be establishing new job history. But we really want to move, and would like to take full advantage of this tax credit for home buyers this year. I would like my first home to be in arkansas. Some one please help!!!! If anyone is, or knows a good loan agent that can help us, please forward there info to. I'm pretty sure it will be some where in the ozarks, fairly close to fayetteville. Thanks everyone for all your help!!!!!!

[DC at the Ridge]

Originally Posted by vaultingcowgirl

We are moving to Arkansas some time in the near future. Not sure what area. The ozarks are very temping. Here is our delema that I cant seem to get a straight answer from anyone! We have never bought a home before, we currently live in colorado and have rented for years. We are ready to buy!!! I know I can get approved for a home loan, thats not the problem. I just dont know if I can buy a home in a state that I havent lived in before, Since I will be establishing new job history. But we really want to move, and would like to take full advantage of this tax credit for home buyers this year. I would like my first home to be in arkansas. Some one please help!!!! If anyone is, or knows a good loan agent that can help us, please forward there info to. I'm pretty sure it will be some where in the ozarks, fairly close to fayetteville. Thanks everyone for all your help!!!!!!

You're not really establishing a new job history, you're simply re-locating. If your job history in the past has been stable, there is no reason that an Arkansas lender wouldn't believe that you won't continue a stable employment pattern.

[vaultingcowgirl]

Yes, my job history has been stable. I have been with the same company for over 2 years. Since before they opened. I think thats pretty good job history for me only being 23 years old, and only living in colorado for 5 years. I have started in the bottom of the company and worked my way up to administrative assistant, which I am very proud of. I hate to leave the company, but I really want to leave to state. Colorado isnt as pretty as it used to be for me. I am originally from Michgian, which is beautiful, but COLD!!! My fiancee has lived in Arkansas, and loves it. He is ready to go back. I have never been there. But it looks beautiful, and I am ready to move there. We are expecting our first child in september, so hopefully after that we will be ready to move.

[PurpleLove08]

There seems to be quite a few positions for administrative assistants.
I saw an opening for one with the Department of Education.

I wish you two good luck and I hope you find a home that makes you happy.

[vaultingcowgirl]

Originally Posted by PurpleLove08

There seems to be quite a few positions for administrative assistants.
I saw an opening for one with the Department of Education.

I wish you two good luck and I hope you find a home that makes you happy.

Yes, I dont think that I will have a problem finding a new job. My skills allow me to work any where that has a computer and paperwork, lol. Not the most fun job, but you do what pays the bills. My fiancees a builder. Very skilled, buy due to the current economic situation, work is up and down. I just want to hurry up and move!!!!

[PurpleLove08]

Maybe there will be opportunity for him in the future with all this stimulus stuff going on.
I once thought about becoming an administrative assistant and I don't knock the work. Work is work and money is money.

[Bull Winkus]

The best way to find out is to 'just do it.' I know. It sounds cliche.

Here's the process: Prequalify. Find a house. Apply for the loan.

You can actually choose to do that in any order, but this one works best for both you, the banker and the real estate people. The prequalify application is simple and gets you a quick resolution to your worst fears. With that pre qualification in hand, you'll get red carpet treatment from realtors, because they'll know you mean business. However, you wont actually have the loan until after you apply and are accepted. It is then that they dig into your finances for the previous two years. They'll want copies of your tax statements.

I used Wells Fargo and am well satisfied. They have a loan rep in Hot Springs Village. I bought in Horseshoe Bend. It didn't matter. I live in the Detroit downriver area. We did it all by email. Signatures and all. I used an HP all-in-one printer to print, sign, and scan for return email. The real documents are signed at closing. It was really pretty easy.

You can do it. Good luck!

[vaultingcowgirl]

Originally Posted by Bull Winkus

The best way to find out is to 'just do it.' I know. It sounds cliche.

Here's the process: Prequalify. Find a house. Apply for the loan.

You can actually choose to do that in any order, but this one works best for both you, the banker and the real estate people. The prequalify application is simple and gets you a quick resolution to your worst fears. With that pre qualification in hand, you'll get red carpet treatment from realtors, because they'll know you mean business. However, you wont actually have the loan until after you apply and are accepted. It is then that they dig into your finances for the previous two years. They'll want copies of your tax statements.

I used Wells Fargo and am well satisfied. They have a loan rep in Hot Springs Village. I bought in Horseshoe Bend. It didn't matter. I live in the Detroit downriver area. We did it all by email. Signatures and all. I used an HP all-in-one printer to print, sign, and scan for return email. The real documents are signed at closing. It was really pretty easy.

You can do it. Good luck!

Ok, so do I apply for a loan in Arkansas or in Colorado? I think it would make sense to do it in Arkansas, so I will live by the lender in case there is any problems. Its scary buying a house in a place you've never lived at, or even been to! But I am a very trusting person. I trust that the realater wont stear me wrong!

So you guys bought a house pretty much through e-mail and phone calls? How did that work? How did you know you were making a good deal and finding the right house?? Thanks so much for your help!!!

[HotSpringsLiving]

The location of your lender is much less important than their reputation in the mortgage industry. In the past many people have chosen an out-of-state lender to get a "better deal" or to work with a company they prefer. Most of your interaction, regardless of location, will be by phone anyways. Ask your realtor for several lenders they have worked with in the past. Referrals are usually a good way to start narrowing down your selection of a lender.

In buying our first home, we used Wells Fargo out of NW Arkansas (we were buying in Northeast Arkansas) because we knew a loan officer there.


As far as finding the right house and trusting a realtor, that is another topic. You definitely SHOULD find a realtor that is familiar with/lives in the area you choose to relocate. Do a little research to find a realtor you feel is right for you. They can help you determine if the house you choose to make an offer on "is a good deal" by doing a comparative market analysis of recently sold similar homes.

Make time to visit several areas of AR if you are not already 100% decided on an area. You'll find many threads on this forum discussing the various areas of AR.

Hope that helps a little. Good luck with your relocation!

[Bull Winkus]

Originally Posted by vaultingcowgirl

Ok, so do I apply for a loan in Arkansas or in Colorado? I think it would make sense to do it in Arkansas, so I will live by the lender in case there is any problems. Its scary buying a house in a place you've never lived at, or even been to! But I am a very trusting person. I trust that the realater wont stear me wrong!

So you guys bought a house pretty much through e-mail and phone calls? How did that work? How did you know you were making a good deal and finding the right house?? Thanks so much for your help!!!

My bank contact was made through one of those online generic loan finder, rate quoting web sites. I filled out a web form and waited for banks to contact me. Several did. A few dropped the ball with just an email. One even called me on the phone, only to turn me down due to a minor, old, old glitch in my credit history. Wells Fargo's guy got me an approval very quickly. I already knew which house I wanted, but I didn't have a deal in place. I had found the house online after about a year of searching for just the right place. Once I had the hookup with Wells Fargo, I went to Arkansas to see the house in person. On the way to see that house, I made an appointment with another agent to be shown about a half dozen other possibilities. Still, the best deal turned out to be my first choice. After returning to Michigan, I phoned the agent and made an offer. The next day, they countered. I accepted.

All the paperwork of inspections, and contracts, earnest payment, etc. was done through email between me, my agent and Wells Fargo Bank. Oh, and later even through the title company. Wells Fargo is a California bank, but the Wells Fargo guy was in Hot Springs Village, Arkansas. I even issued the earnest check as an online bill pay transaction through my bank. A closing date was set. I wired the down payment to the title company. I was even told that I didn't have to do the closing in person, but I went anyway. I wanted to do a last minute walk through before closing to make sure the house was still in the same condition it was when I made my offer.

You could start by shopping some of the listing sites that are Arkansas specific. I can't link you to the one I had the most success with, because it is prohibited by City-Data for their own reasons. However, I can send it to you in a PM if you're interested. Just PM me. However, there is no one site that covers the state's real estate market well. No matter how good the site, there are way more listings available in a given region than the site lists. It is such a buyer's market, listings are abundant ... everywhere.

You can buy property in Arkansas without any trips at all, but I strongly recommend at least two; one before making an offer and one for closing to make sure.