The COVID-19 outbreak and pandemic have made many employers require their employees to be remote workers. Remote workers no longer have to report to a brick-and-mortar location. Remote workers no longer have to live close to their workplaces. They can move anywhere in the United States. This is creating a mass exodus of people from high-taxed, high-crime states like Chicago, New York, and California.

Lower Taxed States Are More Affordable For Remote Workers

For example, California has the highest home prices in the nation. Higher-income wage earners in California can not afford homes nearby major cities like Los Angeles, San Diego, San Francisco. Some wage earners that make over six figures can ever afford to purchase a home in California. However, being a remote wage earner for a California employer benefits the employee to relocate to a different state where home prices are affordable. The average home price in California is $648,000. This price is double the national median home price of $465,870.

Remote Workers Buying Homes in Areas With Low Taxes and Affordable Housing

The coronavirus outbreak in the United States last year has changed the way we work. A large percentage of employers have changed the way their employees work. Many workers no longer have to report to a brick-and-mortar location. Many jobs are now remote jobs. Remote workers no longer have to report to a brick-and-mortar location. Remote workers can live anywhere in the United States. This is a great benefit for employees because they can purchase a home in any state.

Tops States With Affordable Housing For Remote Workers

High-taxed states like California, New York, and Illinois are losing tens of thousands of taxpayers because they are fleeing to other lower-taxed states with affordable housing such as the following states:

• Florida
• Alabama
• Kentucky
• Tennessee
• Georgia
• Iowa
• Nebraska
• Wisconsin
• Kansas
• Louisiana
• Virginia
• North Carolina
• South Carolina
• Washington
• Oregon
• Mississippi
• Ohio
• Michigan
• Colorado

. Many people in California who gave up on ever being able to own homes can now realize the dream of homeownership becoming a reality by moving to other states with affordable housing.

The Exodus of City Dwellers to Suburbs

Many big cities like Los Angeles, San Francisco, Chicago, New York City, and others have been spending more than they are raking in revenues. This will get worse with the substantial decrease in tax revenues. More and more families are now making a mass exodus from large cities due to their employers giving them remote job opportunities. They are able to work in less congested and less expensive areas. More and more employers are offering their employees remote job opportunities. Recent data show 14 to 23 million families plan on moving out of major cities to the suburbs.

Top Reasons Remote Workers Move

Part of the reason for the mass exodus of large cities to the suburbs is due to employers offering remote job opportunities to their employees due to the coronavirus pandemic. Remote jobs seem to be the new norm for wage earners. Employers benefit from converting employees to remote wage earners.

Employers Turing More Into Remote Workers In The Future

This means lower overhead such as not paying for rent. Rent is one of the biggest expenses for employers. Mortgage rates being at historic lows is another motivator for workers to pull the trigger in buying a home. The ability to move to lower-taxed states with affordable housing enables families in high-taxed states like California, Illinois, and New York the opportunity to become homeowners.

Remote Workers RentingR Priced Out of The Housing Market Are Moving To Other States To Buy A Home

Many Californians have been priced out of the housing market. This holds true for high-income wage earners. However, with employers giving employees the opportunity to become remote wage earners, many Californians are moving to lower-taxed states with affordable housing.

How to Get Prequalified Now

 

As a remote worker, you may be wondering if you can still get a mortgage. The answer is yes! Here are a few things to keep in mind when applying for a mortgage as a remote worker.

• Be prepared to show proof of income. This may include tax returns, pay stubs, and bank statements.
• Have a strong credit score. This will give lenders confidence that you will be able to make your monthly payments on time.
• Make sure you have enough saved for a down payment. Larger down payment will lower your monthly payments and make it easier to get approved for a loan.
• Find a lender who is willing to work with you. There are many lenders out there who are willing to work with remote workers. Shop around and find one that offers the best terms for your situation.

If you’re a remote worker looking to move to cheaper housing, you may face some stiff competition from other homebuyers looking for the same thing. There’s no need to feel left out when it comes to getting a mortgage. In fact, there are a few things you can do to make sure you get the best mortgage possible.

You can get ahead of the competition by presenting a credit-approved offer. This means you have submitted an application and all required documents to a mortgage lender and been issued a preapproval letter. This means that as long as the property meets the lender’s guidelines, you should be able to close. A pre-approved offer is almost as good as a cash offer.

Getting pre-approved for a mortgage is a great first step in the process. This will give you an idea of how much money you’ll be able to borrow and what your monthly payments will be. It’s also a good way to show lenders that you’re serious about buying a home. Shopping around for the best interest rates is also important.

Be sure to compare rates from a few different lenders before you make a decision. Lastly, be prepared to show proof of income. Lenders will want to see your most recent tax return or pay stubs to verify your income. If you’re self-employed, you may need to provide additional documentation, such as bank statements or profit and loss statements.

Mortgage For Self employed Remote Workers

If you’re self-employed and looking to buy a home, there are a few things you need to know in order to qualify for a mortgage. In this blog post, we’ll outline what you need to do in order to get approved for a home loan as a self-employed individual.

As a self-employed individual, you may face some unique challenges when it comes to qualifying for a mortgage. Lenders will often require additional documentation in order to verify your income, and you may need to provide a larger down payment than someone who is employed by another person or company. However, it is still possible to qualify for a mortgage as a self-employed individual – you just need to be prepared to jump through a few extra hoops.

Here are four tips that can help you qualify for a mortgage as a self-employed individual:

1. Be prepared to provide extensive documentation When you’re self-employed, lenders will often require more documentation in order to verify your income. This may include tax returns, financial statements, and bank records. Be prepared to provide this documentation so that the loan process can go as smoothly as possible.
2. Have a strong credit score Lenders will take a close look at your credit score when you’re self-employed – even more so than if you were employed by someone else. Make sure to keep your credit in good shape by paying your bills on time and maintaining a good credit history.
3. Make a larger down payment Self-employed individuals often need to make a larger down payment than someone who is employed. This is because lenders view self-employed borrowers as higher risk. By making a larger down payment, you can show the lender that you’re serious about repaying the loan.
4. Get a cosigner If you’re having trouble qualifying for a mortgage on your own, you may want to consider getting a cosigner. This can be someone with good credit who is willing to sign the loan with you and assume responsibility for the debt if you default.

Qualifying for a mortgage as a self-employed individual can be challenging, but it’s not impossible. By following these tips, you can increase your chances of being approved for a loan.

 

Types Of Mortgage Lenders And Loan Programs

CLN Mortgage is a mortgage lender licensed in multiple states. It is obvious to see the mass exodus of Chicagoans fleeing the city to the suburbs and/or other lower-taxed states with affordable housing. CLN Mortgage has a reputation of being able to originate and fund loans other lenders cannot. We have a national reputation for our no-lender overlays on government and conventional loans. Over 75% of our borrowers are folks who could not qualify at other mortgage companies.

CLN Mortgage No Overlays Lender With No Overlays

If you were told no by other mortgage companies and you meet the minimum agency mortgage guidelines, please contact us at Capital Lending Network, Inc. at 888-900-1020 or text us for a faster response. Or email us at contact@capitallendingnetwork.com. The team at Capital Lending Network, Inc. is available 7 days a week, evenings, weekends, and holidays.