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Updated over 2 years ago on . Most recent reply

Account Closed
  • DFW
27
Votes |
62
Posts

Would a bank approve a loan for this circumstance?

Account Closed
  • DFW
Posted

If i were to move to another state and try to purchase a duplex that i would use as a primary residence, would a bank approve even if i only have the down payment and 6 months cash reserves? No job in place yet. 

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Christian Ehlers
  • Real Estate Agent
  • NH & MA
290
Votes |
456
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Christian Ehlers
  • Real Estate Agent
  • NH & MA
Replied

I'd agree with @Lorenzo Prieto here. If you can get an offer letter showing how much you will be making once you move that is usually enough to get you moving forward, but to only have a down payment I don't know of any conventional lenders that would be able to get a loan approved that way. 

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