Click To View Links

Work less than a year

by Mariana A.
(Broward, Florida)



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

===ANSWERS===

Hi 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.

Home this helps,

Jeff

Comments for Work less than a year

Click here to add your own comments

Work less than a year
by: Diane

I was so excited to see this question. In the last two years I have changed jobs twice but always to improve my income. I wondered if that would hurt my prospects at getting a loan. Now I know it will not! Thanks a million!

Click here to add your own comments

Return to Mortgage Questions.

Recent Articles

  1. Buying a Home USDA vs FHA

    Oct 08, 19 08:33 AM

    Hello, I have a question regarding USDA vs. FHA home loans. I am in the process of getting a home in the next month but was told I wouldn't be approved

    Read More

  2. Buying a home - worst case scenario - what to do?

    Aug 05, 19 10:44 PM

    Hi Help please! I am a first time home buyer, buying a home with my fiance'. He is selling his home currently on the market for $125K with no contingencies.

    Read More

  3. Buying a Home Out of State Questions

    Apr 15, 19 12:36 PM

    When buying a home out of state, should we wait for employment contracts? Or can we use our current state's bank? Find the answers here.

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans


Follow Us On Twitter

follow me on twitter