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My fiance and I are thinking of relocating to NC (somewhere in the triangle) from New York City. It is a serious consideration, but we need some help! For one, how do you go about getting a mortgage, especially in this real estate and economic climate, when you don't have employment history established in the area? He has had steady employment here for the past 10 years, and I had been employed by the same place for 7 years, unemployed for the past year while i finish my nursing degree. Also, if someone is going into healthcare, which hospital/s are the best to work at? My main considerations are salary and education assistance. Thanks for an advice you may be able to give
My fiance and I are thinking of relocating to NC (somewhere in the triangle) from New York City. It is a serious consideration, but we need some help! For one, how do you go about getting a mortgage, especially in this real estate and economic climate, when you don't have employment history established in the area? He has had steady employment here for the past 10 years, and I had been employed by the same place for 7 years, unemployed for the past year while i finish my nursing degree. Also, if someone is going into healthcare, which hospital/s are the best to work at? My main considerations are salary and education assistance. Thanks for an advice you may be able to give
There are some pretty sharp lenders who hang out on the CD Mortgage Forum.
But, you may do well to rent, get established, find an area that you want to live in, and then buy. Take some of the pressure off.
As long as you are in the same field in the local area for employment, you should be ok.. but do check with a lender for verification on that as things change constantly. Since you aren't working though right now, probably will be harder. Just like what Mike said.. I would rent first and then buy. Much easier for relos to do and get familiar with what they want and like in an area. Not sure I can help with hospitals. My neice and a friend just finished their nursing degrees and are now working as interns (not sure if that is the right word) in local hospitals. They got their degree at UNC.
We moved here in April - both DH and I are in healthcare. We had no problem getting a mortgage before we secured jobs, with the stipulation we secured employment before closing. We both found positions in less than a month and closed on our home 5/30/08.
As far as hospitals, there are plenty to choose from. Duke, UNC, WakeMed, Rex etc. Go to each hospital's respective HR site. Fill out your application online and post your resume. You can apply for specific positions posted. HR will review your application and submit it to the appropriate managers. As far as which are the best, you'll get different opinions for various people. Both my husband and I work at Duke and are very happy there. It is a large academic center which fosters evidence based practice and is a great place to learn/gain experience.
You can purchase the home here as a second home, based off the income from the job he has where you are now. You should pick up something part time for a bit so your income looks higher, if his is not enough for the mortgage alone. You just tell them it is a vacation home.
I'm a Realtor and wanted to comment on your question regarding how to get a mortgage when you haven't been employed in NC. I'm currently licenced in OH but will be relocating to NC. Where you and your husband were employed before moving to NC should not make any difference to a lender. The fact that you were employed, and can adequately explain any breaks in employment (such as pursuing your nursing degree), is what counts. Of course the lender will also want to see that you and your husband have obtained new employment in NC (or you are still pursuing your nursing degree). Hope this helps.
Last edited by kimdaeger; 01-03-2009 at 10:55 PM..
Reason: Needed to add an important point
Best rent here to find the area that meets your needs before buying. Good deals should be around a while yet.
Having also once lived in NYC, be aware that there is near zero public transit here.
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Mortgage Help
