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Thank you, thank you, thank you ALL for these messages. I have learned more in reading this blog than I have in researching on the net for hours,days weeks.......I know I have to not take all info as gospel truth, but still I have so much more of an idea of what I am getting in to. A more realistic flavor if you will....
My husband and I are from LI, we are both in our 50's with a teenage daughter who will be a junior in high school this fall. We currently own a house that I am fixing up to sell and we hope to make a profit of about 100k to put down on a 250k morgage.
Here is my problem, our credit is fair (the 11k taxes a year and 1k/monthly utilities have taken its toll) however, my husband has found a wonderful job in Angola Africa as a consultant Architect. He has done this for the past year and plans to do this for at least for the next five years. He loves this job and as crazy as it is, we love meeting him all over the world so he does plan to stay at this job. HE is out of the country 330 days a year. My question is would the same criteria hold in regards to "NO JOB IN NC, NO MORGAGE IN NC". I wonder if anyone would know this? His salary is 6figures.
I was looking to sell my house ASAP, and relocate my daughter and myself to NC whenever we had a downpayment for a home. But now I am worried that my husband and I won't be able to get a morgage with that criteria, 2 out of 3 met, we have a good deposit 100k, fair credit, 620, and this consultant job???
ANY advice would be greatly appreciated. I need to know whether I should just save and stay another year and buy a home outright next summer.
Ideally I would love a home 250 k in Holly Springs/ Apex area...or NW Greensboro. But I would love anybody elses ideas....a quaint town with a NORMAN ROCKWELL main street has always been a dream.......I need a great HS and it has a YOUNG LIFE CLUB for my daughter, she says she is all set.
Thank you for all your help. I am trying to acquire more polite manners and actually bought a book on Etiquette, lol. This NYer is trying Deb
You/re going to relocate your daughter durring her Junior year? I'm sorry but that is where I would stop you at. I was planning on moving back to NY from NC this summer, but my oldest son will be a senior so we are actually now going to hold off for another year. I would suggest sticking it out until your daughter graduates to relocate.
Well, I wasn't going to even entertain the thought of moving my daughter in her junior year,,,,but you don't know my daughter. She is excited about the adventure and feels confident that she will do well wherever she is planted. I am so impressed with her, because if it was me I would be whining..................She is an honor student that believes that Christ will direct our path, and if that is where he wants us, so be it.
My faith is not as great as hers, sadly, and I am in more of a panic mode. But she is very relaxed about it all......???????
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,548,693 times
Reputation: 2118
Quote:
Originally Posted by SOulJOURNER777
Hi All ...
Thank you, thank you, thank you ALL for these messages. I have learned more in reading this blog than I have in researching on the net for hours,days weeks.......I know I have to not take all info as gospel truth, but still I have so much more of an idea of what I am getting in to. A more realistic flavor if you will....
My husband and I are from LI, we are both in our 50's with a teenage daughter who will be a junior in high school this fall. We currently own a house that I am fixing up to sell and we hope to make a profit of about 100k to put down on a 250k morgage.
Here is my problem, our credit is fair (the 11k taxes a year and 1k/monthly utilities have taken its toll) however, my husband has found a wonderful job in Angola Africa as a consultant Architect. He has done this for the past year and plans to do this for at least for the next five years. He loves this job and as crazy as it is, we love meeting him all over the world so he does plan to stay at this job. HE is out of the country 330 days a year. My question is would the same criteria hold in regards to "NO JOB IN NC, NO MORGAGE IN NC". I wonder if anyone would know this? His salary is 6figures.
I was looking to sell my house ASAP, and relocate my daughter and myself to NC whenever we had a downpayment for a home. But now I am worried that my husband and I won't be able to get a morgage with that criteria, 2 out of 3 met, we have a good deposit 100k, fair credit, 620, and this consultant job???
ANY advice would be greatly appreciated. I need to know whether I should just save and stay another year and buy a home outright next summer.
Ideally I would love a home 250 k in Holly Springs/ Apex area...or NW Greensboro. But I would love anybody elses ideas....a quaint town with a NORMAN ROCKWELL main street has always been a dream.......I need a great HS and it has a YOUNG LIFE CLUB for my daughter, she says she is all set.
Thank you for all your help. I am trying to acquire more polite manners and actually bought a book on Etiquette, lol. This NYer is trying Deb
SOulJOURNER777 (btw I love the screen name ), you are more than more than more than more than FINE (did I say that enough). As my mortgage guy tells me, who is also a great family friend, with banks it's all about risk. You have a 620 credit, which isn't really a problem, and you have $100K which is near 50% down payment! Banks will be falling all over themselves to give you a mortgage with those terms. If the $100K will leave you with $0, you may consider pulling back to say 30% or so downpayment to leave a little wiggle room IMO. With that much down you should get great terms. Given that your husband travels for work, that shouldn't be a problem. You live in one place yet he works exclusively in another. The big thing is as long as you don't have any lates in the last 12 months on your current mortgage (I think any lates that are 90-120 days) you are in the catbird seat!
I am actually agreeing with I'informed on high school age student- but as long as she is cool with it, then it will be okay.
Funny though, my RE happens to be someone I knew in HS back in Miami and we bump into each other in Charlotte. She told me she left our HS as a Junior (I was a freshmen at the time), she sort of wishes she finished it out there, but, she has no problems with it now
That is untrue, no job in NC, no mortgage. There are so many companys in LI that are licensed to do business in all 50 states. Talk to a mortgage broker. They'll be able to help you. They will be fighting for your business.
Thank you all for the advice. I am getting excited again. I even read the NY blog that is attacking NC and still I am not dismayed. THe true test. LOL I do worry about the overcrowded (by people like me - geez) areas. Holly Springs sounds like it is exploding and that landfill ????? Any suggestions I would love to hear your thoughts....BTW My daughter and I have friends in Fuquay -Varina, Apex areas so that will be good. Thank you again - I love that people take the time to answer me, that is so cool.
Well, I wasn't going to even entertain the thought of moving my daughter in her junior year,,,,but you don't know my daughter. She is excited about the adventure and feels confident that she will do well wherever she is planted. I am so impressed with her, because if it was me I would be whining..................She is an honor student that believes that Christ will direct our path, and if that is where he wants us, so be it.
My faith is not as great as hers, sadly, and I am in more of a panic mode. But she is very relaxed about it all......???????
I moved my oldest son across town when he was in his junior year and it turned out to be the best move. He will tell you that today. He was extremely angry at us when we did that but as he met friends and transitioned it was very positive. He is 23 now I think I have been calling him 24 on previous post, my mistake. He still hangs out with the same group of friends he met junior year. He is happy as a clam on this side of town staying put as we leave for NC
Speaking of faith my son is the same way. He's always correcting me .
Even though you husband doesn't physically work in the States if he banks his salary here that should be enough to qualify. I know that consultants in the oil and gas industry who go overseas to a hardship location make really good money and much of it is not taxed if he is out of the country for the required number of days each year. You shouldn't have any trouble at all qualifying for a mortgage with his income. It might help if he transfers his banking to a North Carolina bank but even that may not be necessary. Congrats to your daughter for not getting all whiny about changing schools in her junior year - she obviously has a real sense of adventure that will serve her well in the years to come. Good luck to all of you in your new life.
I moved my oldest son across town when he was in his junior year and it turned out to be the best move. He will tell you that today. He was extremely angry at us when we did that but as he met friends and transitioned it was very positive. He is 23 now I think I have been calling him 24 on previous post, my mistake. He still hangs out with the same group of friends he met junior year. He is happy as a clam on this side of town staying put as we leave for NC
Speaking of faith my son is the same way. He's always correcting me .
I think some people worry too much about moving their children. I understand the hesitancy, stability is a good thing but at the same time I think it kind of prepares them to deal with the sudden changes that can occur during their adulthood. As I said earlier, my parents decided to move just as I was turning 16, they also moved when I was 11; I adjusted. Sometimes I do wonder how different my life would have been if we hadn't moved; not that it would have been any better though.
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Deb
