Moving for a new job, transfer, promotion or career opportunity? MGB Financial Services, Inc. can help you explore mortgage options for your move to Southern California.
30+ Years of Mortgage Experience
You may not need to wait until you have moved, started your new position or received several paychecks before discussing your mortgage options. Your employment offer, transfer, income, assets and overall financial profile may help determine what financing options are available.
QUICK PRE-QUALIFICATION COMPLETE LOAN APPLICATIONA relocation can involve a new employer, new income, a current home that has not sold yet, temporary housing, moving expenses and a deadline to report to work.
You take care of the move. Let us help you understand the mortgage side.
Relocation financing isn't one specific mortgage. It is about finding an appropriate financing strategy for your move and financial situation.
Accepted a new position and moving to California? Let us review your employment, expected income, start date, assets and financing needs before you begin shopping for a home.
Being transferred by your existing employer? Your employment continuity, compensation and relocation details may be important when evaluating your mortgage options.
A promotion or new career opportunity can change your income and housing needs. We can review the complete situation rather than looking at only one part of your financial profile.
Relocating for a hospital, medical group, residency, fellowship or new practice opportunity? Ask us to review available conventional, jumbo and physician-focused financing options based on your circumstances.
Relocation packages, bonuses, equity compensation and changing income structures can make a mortgage application more complex. An early review can help identify documentation requirements.
Moving while operating a business can create additional underwriting questions. Depending upon the circumstances and available programs, we can explore traditional and alternative documentation options.
Depending upon the loan program and circumstances, an underwriter may be able to evaluate qualifying income using acceptable employment documentation, including certain employment offers or contracts.
Requirements vary considerably by program, employer, compensation structure, start date and borrower profile. That is why we recommend an underwriting review rather than guessing.
Instead of waiting until after your move to ask whether you qualify, let an underwriter review your employment, income, assets, debts, credit and relocation timeline.
LET AN UNDERWRITER REVIEW MY RELOCATION OPTIONSYou may be wondering whether you need to sell your current home before purchasing your California home. The answer depends on your complete financial situation and the applicable loan guidelines.
✓ Current mortgage payment
✓ Expected sale of your existing home
✓ Available equity
✓ Down payment funds
✓ Cash reserves
✓ New employment income
✓ Existing debts
✓ Relocation benefits
✓ Target California home price
✓ Expected move and employment dates
Your relocation financing should fit your financial profile and the home you plan to purchase. Depending upon eligibility and program availability, options may include:
✓ Conventional Loans
✓ FHA Loans
✓ VA Loans for Eligible Veterans
✓ Jumbo Financing
✓ Physician Loan Options
✓ First-Time Homebuyer Programs
✓ Down Payment Assistance Programs
✓ Bank Statement / Alternative Documentation Programs
✓ Non-QM Financing
MGB Financial Services, Inc. helps borrowers explore mortgage financing throughout Southern California, including Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties.
✓ Employment offer or transfer letter, if available
✓ Expected start date
✓ Salary and compensation information
✓ Recent income documentation
✓ Asset information
✓ Current housing information
✓ Estimated purchase price
✓ Down payment amount
✓ Details of any employer relocation package
Exact documentation requirements depend upon the loan program and your individual circumstances.
A relocation borrower may not fit neatly into a standard mortgage scenario. Instead of assuming what will or won't work, let us review the details.
Our goal is simple: understand your situation, review the available documentation and help you explore financing options that may fit your move.
Whether you're moving next month or just beginning to plan your relocation, an early mortgage review can help you understand your options before you start shopping for your California home.
QUICK PRE-QUALIFICATION COMPLETE LOAN APPLICATION30+ Years of Mortgage Experience
Questions about relocating and buying a home in California?
Talk with us before you move.
Phone: 562-809-2643
Email: Loan@MGBFinancial.com
Website: www.MGBFinancial.com
DRE #00984310
NMLS #257-608 / 280-127