Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Bambi Griffin
0
Votes |
1
Posts

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.

Loading replies...