How can I find a good deal on a mortgage in New York state?

My wife and I are buying a house in Rochester New York. However, I don’t have a job there yet. I am still working and living in North Carolina. I plan on moving there when I get a job, which should be soon. However, we have to buy the house now. Some lenders don’t like the fact that our sole income is out of state- don’t consider it to be permanent since I plan on moving.

We are selling our house in North Carolina and will pay off some of our credit card debt with the equity, but still have about $ 10,000 in credit card debt and about 10% to put down on the house in Rochester. Also, my income is about $ 52,000/year and the house is worth about $ 175,000. I also have about $ 25,000 in student loans, but no car loans or other loans.

I have a lender who is willing to finance our house, however the rate is 6.95%. I know that is high, but many lenders won’t touch us because of out-of-the-area income. Should we just go with this rate, or can we do better?

Register New Account
Reset Password