Buying a house in a new city...

[meep_42]

It looks like I'm going to be moving to the Tempe/Phoenix area at the end of the summer. I currently rent, but I have quite a bit saved up in my 401(k) account and will definitely be in Tempe for 4-5 years, so I want to see about buying a house.

There are a few places that i've seen online that I think would be suitable -- mortgage payments less than some rent in the area, gaining equity instead of renting, having my own place. I can make a sizable down-payment with part of my 401(k) amount, so that's not too much of an issue... my question is: Will I be able to get a loan in a new city without having a job set up? Has anyone else done something like this, if so, what would be the best course of action?

-d

[Shajen]

As long as your credit score is good and you are employed currently, you shouldn't have any problems.

Are you planning on getting a job when you get out there? If I were you, I'd secure employment in Phoenix/Tempe before moving.

But, either way, with a good credit score and some money to put down, shouldn't be too much of an issue.