Updated almost 6 years ago on . Most recent reply
Out Of State Mortgage Application W/ Transferable Business?
E-Commerce business- (online internet retail sales nationwide)Would this be considered in the application process as a "transferable business"? More specifically meaning if this was operated in one state on the west coast (Colorado) could you apply for a mortgage for a property on the east coast (Connecticut) and meet the mortgage requirements for pre approval.
This is assuming the mortgage applicants have:
-Applicants operated the business for 2 years within the same business type-( E-commerce Retail Sales (LLC)) from same location
-Applicants have 800 or above credit scores
-Applicants can put down 20% or more
-Applicants can provide Tax form 1065, bank statements, Letter Of Intent, etc
-Applicants have Low debt to income ratio
Many thanks for any information you can provide.