
Ask HN: Does working remotely hinder the ability to get a mortgage? - taesu
Consider a person A who works regular 9-5 job vs a person B
who works for a company in another country remotely,
does the bank see person A and person B differently at all
provided that they make the same salary?
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shoo
I suspect remote/on-prem would be much less important than the difference
between permanent employee with predictable salary versus
freelancer/contractor with less predictable income.

If the bank were really on the ball they might try to estimate the probability
of you losing your income stream and the probability you'd be able to replace
it with a new one to keep paying off the mortgage. Then where you lived and
what local opportunities for work were available might come into it. Giving a
loan to a person in a small town with only one big employer / one industry is
riskier than giving a loan to someone in a location where there are many
alternative opportunities for employment. But on the other hand, land is
probably cheaper in the small town, so the loan might be smaller..

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codingdave
Based on my experience, no. They look at the documentation of your income and
debts. Where I physically sit when I work simply wasn't asked.

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navigatesol
Interesting question.

I can't say for sure, but my take is it probably wouldn't, based on a couple
things:

1\. I've known people who work sales for companies located across the country.
We don't consider these jobs "remote" like the tech world, but they're similar
in most respects. They own a home in a different city than their employer.

2\. Banks and brokers are, for the most part, dying to give away money. The
employment section of the mortgage application often doesn't ask much more
than how long you've worked at your employer and what your salary is
(sometimes a letter from your employer is required, but should be no problem).

Just apply, it doesn't hurt.

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duxup
I'm not sure they would even know / bother to check.

I've regularly worked for companies located far from where I bought a home.
The topic never came up outside of income.

Feel free to ask a mortgage broker or rep from the mortgage company, they are
happy to answer questions.

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skeeterbug
I had to have my manager sign a letter that I was a full time remote employee.

