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Updated about 5 years ago,

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Bambi Griffin
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Out Of State Mortgage Application W/ Transferable Business?

Bambi Griffin
Posted

E-Commerce business- (online internet retail sales nationwide)Would this be considered in the application process as a "transferable  business"? More specifically meaning if this was operated in one state on the west coast (Colorado) could you apply for a mortgage for a property on the east coast (Connecticut) and meet the mortgage requirements for pre approval. 

This is assuming the mortgage applicants have:
-Applicants operated the business for 2 years within the same business type-( E-commerce Retail Sales (LLC)) from same location

-Applicants have 800 or above credit scores

-Applicants can put down 20% or more

-Applicants can provide Tax form 1065, bank statements, Letter Of Intent, etc

-Applicants have Low debt to income ratio
Many thanks for any information you can provide.

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