Moving into a new home can be an amazing adventure. But if you’re moving out of state, it can bring many uncertainties. Where to live, which schools are best for your children, and what kind of commute you might have to work are all valid concerns.  You will definitely want to connect with helpful resources to get your questions answered. A real estate agent, for example, can help you find the right home in the right location. But, when buying a home in a new state, you also need to contact a mortgage lender to discuss the financial side of home buying. The process in your new state may be different from where you’re coming from, so you’ll need a professional mortgage lender to make sure you understand how things work.

Regardless of the state you’re moving to, there are a few parts of the process that are essentially the same. Determining how much you can afford to spend on a house is one such example. In addition to the mortgage payment, you will need to consider how much you will be paying in real estate taxes, HOA fees, electric bills, and even home insurance. All of these expenses need to be factored in before you even start your home search.

You should also think about the impact on your taxes when you move to a new state and buy a new home. If you are moving because of a job, you might be able to deduct your moving expenses. In this case, you need to keep track of any expenses you incur as you relocate to your new home state. Saving money is essential when you are moving because you just don’t know what other costs may be involved. Some advanced planning with your mortgage lender before you move will help you be prepared for your transition.

When working with Starboard Financial, our experienced loan officers will help you find the best home loan to meet your specific financial situation. As a full-service lender, we are committed to client trust and satisfaction through every stage of the mortgage loan process. And, our unique loan process enables us to close loans quickly–sometimes in as little as 10 days.

If an out-of-state move is in your future, contact us at Starboard Financial.