First-time homebuyer from NY to MA...how to proceed? (renters, mortgage)

[rchase5]

Hello! My wife and I are looking to relocate to MA from (non-NYC) NY. We are renters in our late 20s who have been working on our credit and saving up to be able to purchase our first home in the near future. Some questions:

1. Are there any first-time homebuyer programs we could join from out-of-state, or would we have to become residents first?

2. We are looking to purchase affordable housing with reasonable taxes, any suggestions? Western MA is optimal, but we will pretty much go anywhere in MA within a few hours of NY with a good school system, as we would like to start a family soon.

3. Will we have to secure employment and residence (we'd rent) in MA first?

I can provide more information about us if needed, of course. We really appreciate any and all suggestions and insight! Thanks so much!

[CaseyB]

You'd need employment, I'd think. At least if you want to qualify for a mortgage.

[MikePRU]

Originally Posted by rchase5

Hello! My wife and I are looking to relocate to MA from (non-NYC) NY. We are renters in our late 20s who have been working on our credit and saving up to be able to purchase our first home in the near future. Some questions:

1. Are there any first-time homebuyer programs we could join from out-of-state, or would we have to become residents first?

2. We are looking to purchase affordable housing with reasonable taxes, any suggestions? Western MA is optimal, but we will pretty much go anywhere in MA within a few hours of NY with a good school system, as we would like to start a family soon.

3. Will we have to secure employment and residence (we'd rent) in MA first?

I can provide more information about us if needed, of course. We really appreciate any and all suggestions and insight! Thanks so much!

I'm not aware of any first time home buyer programs that you need to join. There's a program called Mass Housing in this state that allows buyers to purchase with only a small down payment. You just need to find a lender that participates though and there are eligibility requirements that pertain to the property. I think it has to be a primary residence too, but lending isn't my area of expertise. So, before you buy make sure to hook yourself up with a knowledgeable mortgage person.

I'm really clueless when it comes to Western MA, but if you can define what you mean by "affordable" as it's a relative term the people familiar with that area of the state will chime in with some responses I'm sure.

Originally Posted by CaseyB

You'd need employment, I'd think. At least if you want to qualify for a mortgage.

A lot of landlords like to see employment on the rental application as well.

[rchase5]

Thanks for your help, guys! We are looking in the $250,000 and under range. If we could get a great home in a good location for under $200,000, that would really be ideal.

Also, we are gainfully employed here in NY, would that count? I will definitely look into Mass Housing, and we will keep exploring our options.