Question for Real Estate Types (Orlando: credit report, loans, foreclosure)

[twheels]

Hey, wondering how in the heck people manage to move and apply for to rent a house/apt before a job is secured? Do people rely on the current job figures and credit report or what? I'm confident I'll have several jobs once I get to Orlando and my wife can transfer within her company, so that isn't an issue on our end, but I can imagine how it would look on the other end.

Cheers!

[debrajowers]

What I am finding in the current market conditions that most lenders require at least 1 paystub verfied in the area for a "primary residence". There are quite a few rental properties available in the area and depending on if the rental is an apartment complex or a single family residence and if it is with a property management company the income verification requirements can vary. I believe with the amount of pre-foreclosure properties on the market many homeowners would consider renting to someone as long as they could pay 1st and last months rent and a security deposit. If you are looking to purchase the lenders do have programs called "stated income" whereby if you have 15% or more downpayment and high "credit scores say 680 to 700+ range these are possible with out verifications being sent out. Unfortunately some lenders are still on these loans doing a "phone verification" of employment. Hope this information helps some.