Financing when moving OOS and not employed there yet

[Robyn Thorsen]

Your goals and story: To purchase either a SF or MF home to House Hack

Type of property: SF or MF

Location of property: Wilmington, NC

Purpose of financing: purchase

Type of financing sought: Not sure, Fannie/Freddie, private, seller-carried, subject-to, loan assumption, commercial, FHA, VA, USDA.

Current or prior ownership of real estate: Have not owned any real estate ever.

Occupancy: investment, owner occupied, short term furnished rental, rent-to-own, and or long term rental.

Value of property at present and/or your offer price: currently looking at properties

After repair value: $ N/A

Anticipated or actual appraisal issues: N/A

Current rents per month: $ an extremely cautious number we believe is $500/br

Fair market rents per month: $lowest we saw was $820 for a 1 br

Down payment or equity: $8,000  not sure of equity yet as we haven't locked down the subject

Source of down payment funds, if applicable: own funds

Income Source: Salaried/hourly W2 (In Illinois)

Gross monthly income (optional): $2,400 + pretty regular overtime

Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: under $100

FICO: Good bordering on excellent

Credit issues: Length of time I'm only 20

Additional details:  Wondering if anyone can shed some light on this...how or can you get financing when you want to move to another state and have been working steady (Kohls for 3 yrs and recently changed jobs, about 4 months ago, to better salary, from $10 to $15 / hr, and opportunities, already been promoted twice) but will have no employment history in the new state.  I know people do it but I don't understand how.  Any thoughts or insight would be greatly appreciated.  I thank you for your time!