Will I have Mortgage Issues

**goinbackhome** · 10-23-2007, 06:44 AM

We just bought a house in Charlotte in august for 170k. It was a new build started in Feb. But we just decided we want to move back to NJ - where an avg house is 275->350k. Am I going to have a lot of issues getting the mortgage in NJ because I just got one in NC in august? We are very ready to leave, but worried well have to return to an APT for awhile.

**TwiloMike** · 12-06-2007, 07:52 PM

Originally Posted by goinbackhome

We just bought a house in Charlotte in august for 170k. It was a new build started in Feb. But we just decided we want to move back to NJ - where an avg house is 275->350k. Am I going to have a lot of issues getting the mortgage in NJ because I just got one in NC in august? We are very ready to leave, but worried well have to return to an APT for awhile.

Can you sell your Charlotte house? Have you started looking for a NJ home?

**goinbackhome** · 12-09-2007, 09:52 AM

TwiloMike,

The house here in charlotte will be for sale in january, at that time I will be looking in NJ.

**Codythebest** · 12-09-2007, 03:03 PM

Fortunately, you are in Charlotte where the market is still alive...

**petrick** · 05-08-2008, 11:28 AM

Charlotte house may be lucky for you because market get alive today

**jamesww** · 05-08-2008, 11:36 AM

Originally Posted by goinbackhome

We just bought a house in Charlotte in august for 170k. It was a new build started in Feb. But we just decided we want to move back to NJ - where an avg house is 275->350k. Am I going to have a lot of issues getting the mortgage in NJ because I just got one in NC in august? We are very ready to leave, but worried well have to return to an APT for awhile.

If you sell the Charlotte home and still have reserves, a down payment and good credit you should have no problem at all. If you are unable to sell it then you could have some issues if you made the purchase in Charlotte in under one year from the time you wish to purchase the new home in NJ. Or if you do not have enough income to qualify for both mortgages. The mortgage market is very tight right now and there really are no good ways to get around traditional lending guide lines. I wish you luck and I am sorry to hear that you do not like it in Charlotte.

**TwiloMike** · 05-08-2008, 09:46 PM

How's it going with this house sale? Is there a contract for it yet? If you have a signed contract of sale you're good to go for a mortgage in NJ.

Sorry for the long absence...