Can I buy a Colorado mortgage, a home in another state?

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This is my first time home buyer, which has been approved for a loan here in Colorado. I can not move me because my friend can go to law school MN. I would also like to go …. Thus, the desire to buy a house.
Bought a house w / w Richmond Home Builder’s / the status of their loan company, American Home Mortgage use. At 6:09, the loan officer qualifies us as a credit score is on the 800th three weeks before closing, she asked for more documentation was w / c by fax to her. Ten days before closing, she said she had not received the documents. Was referred to it, w / copy their processor in Colorado. Since the company was on the schedule, e-mail it to me for the duration of my trip, I will not be able to respond or provide more documentation when needed. The night before my trip in their e-mail came w / a rate of 6.25% for 1 and 8.5% for the second loan and document so they asked the rate locked characters. It was signed by e-mail and fax it to her in the same night. On Monday, the Day of Judgement were higher than what has been signed. She said it is’ coz our high debt ratio. Was not this a violation of the bait? Each federal and state laws is MD?

  1. Reply
    Age of Reason
    January 20, 2011 at 10:39 pm

    You would have to be approved by a lender that is licensed to do business in MN

  2. Reply
    Mortgage Guru
    January 20, 2011 at 10:57 pm

    Hi, Jen. You would need to be approved based on the actual property, but the bulk of the qualifying (income, credit, employment, etc.) would be the same.

    It would be wise to work with a lender or bank licensed to do business in either state. That way, it’s just a matter of switching the property on your application and proceeding forward from there. Will you be employed before you move? That will have a large bearing on your qualification.

    I work for a bank licensed to lend in all 50 states, so I could help. Email me, and I’d love the opportunity to discuss your options.

  3. Reply
    bob shark
    January 20, 2011 at 11:04 pm

    You need to consult a lawyer

  4. Reply
    January 20, 2011 at 11:26 pm

    I’m sorry you are having this problem. Many people go on-line to post legal questions and end up getting legal opinions from people who are not attorneys. This happens because money or lack of is a factor. I am not an attorney so I am not qualified to tell you about the law but I am in the legal services industry and I can tell you that you do have a legal situation that should be brought to the attention of a qualified attorney who is licensed in your state.

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  5. Reply
    ron d
    January 21, 2011 at 12:10 am

    FBI investigate cases of mortgage fraud. Bait and switch.

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