I have worked in a company for less than a year but I worked for a year in another company and also have a part time job. My credit score is 750 and I have a savings account that has more than enough for a down payment on a house. Is it possible that a get a home loan?
Thank you Mariana
I'm a little unclear on your employment history. If you have at least 2 years of continuous employment, even though not with the same employer, you should qualify for a home loan.
Lenders like to see 2 years of steady employment and if you changed jobs, it has to be so you can improve your situation. For example, let's say you worked as a waitress in a restaurant. Then you leave that job and start working in a office. Now you make more money, have steady income unlike that in a waitress job where you depended on tips.
A lender will look at this as an improvement in your life style and therefore you should be able to qualify.
Find a good loan officer at a bank like Chase or Bank of America and have them pre-qualify you for a loan.
With the down payment money, steady work and a great credit score you should have no problem.
If you're thinking about this, you may want to get moving and still take advantage of the TAX CREDIT up to $8,000. You will need to get the home under contract by the end of April.
Would you like some FHA help? Perhaps you are wondering if it is wise to add a significant other to the mortgage? Or why a mortgage company would ask you to go conventional instead of FHA? Find answer…