Relocating to Florida and You Haven't Started Your New Job Yet & You Want to Purchase a Home Before You Start Your Job?
Then we can help.... We offer Employment Transfer, Expected Income, and Job Offer Letter Florida Mortgage Loans with Great Rates!
A lot of people think mortgage qualifying involves evidence of current income to the tune of W2 forms and paystubs. While this is true in many cases, there are several other ways to qualify for mortgages. In recent months, alternative income methods have made a comeback. One qualifying income program that’s been here all along, but isn’t widely known is the future income mortgage. What is a future income mortgage, it is exactly as it sounds – income that is not currently going into a borrower’s bank account but is expected to arrive in the near future.
We offer FHA, VA, USDA and Conventional Mortgage Loans for people with job relocation offer letters and are relocating to Florida, such as Teachers, Doctors and anyone who has a job offer letter or is relocating to Florida and hasn't started their new job yet. We offer great mortgage rates.
Our future income, job offer letter, and employment relocation mortgages are a huge benefit to home buyers who are set to start a new job but don’t have the income from their new position until after the move.
FHA, VA, USDA Loans require that your new job must begin within 60 days of the loan closing and 120 days for Conventional Mortgage Loans. We also allow you to use Income from cost-of-living adjustments, performance raises or Social Security Retirement income that has not yet begun. This is great for teachers who are changing schools or whose contract begins with the new school year, college students wanting to buy prior to starting their new job and a teacher whose contract begins with the new school year and a Doctor / Physician beginning residency after the loan is scheduled to close.
Employment Relocation Mortgage Loans & Job Relocation Transfer Mortgage Loan Requirements.
- New job must be the same or similar job/position or in the line of work that you are in college for.
- A family member or an interested party to the new job is not allowed.
- Purchase transactions only.
- Must be a Single Family, Townhome or Condo and be occupied as your primary residence.
- Employment offer or contract MUST reflect the following.
- The start date of employment, The salary, and terms of employment Be signed by the employer and the borrower to evidence acceptance.
- The employment offer or contract must be non-contingent or have any contingencies of employment if it does then they must be satisfied prior to closing.
- Cash Reserves are required to cover the qualifying payment for the loan (PITIA) for the number of months between the note date and the borrower’s start date of employment. Each partial month must be rounded up to a full month.
- 620 Credit Score for FHA, VA, and Conventional Loans.
- 640 Credit Score for USDA Loans.
Have you been turned down by other banks and lenders because they want you to start your new job and have 30 days of paystubs before they will qualify you for a new home mortgage loan?
Not to worry we close these types of loans all the time, we know the Mortgage Business and can Close Easy, Complex and Tough Deals. We do this by utilizing our years of experience and "Outside The Box Thinking" to get buyers pre-approved for the maximum loan amount possible while keeping their down payment and closing costs as low as possible.
We offer loans for the entire state of Florida and all of the following cities;
Monroe County Florida Cities; Big Pine Key, Islamorada, Key Colony Beach, Key Largo, Key West, Long Key, Marathon, Marathon Shores, Sugarloaf Shores, Summerland Key, and Tavernier
Collier County Florida Cities; Marco Island, Naples Golden Gate,
Lee County Florida Cities: Alva, Boca Grande, Bonita Springs, Buckingham, Captiva, Cape Coral, Fort Myers, Fort Myers Beach, Lehigh Acres, Sanibel and Jacksonville, Tampa, Saint Petersburg, Hialeah, Orlando, Fort Lauderdale, Tallahassee, Hollywood, Pembroke Pines, Miami, Palm Beach, West Palm Beach, Boca Raton, Miramar, Sarasota, Gainesville, Bradenton.
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Thanks and we look forward to working with you on your mortgage needs!
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