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employment

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emk9956 Joined: 10 Apr 2011 Posts: 1 1.00 Dollars($)	Posted: Sun Apr 10, 2011 6:12 pm    Post subject: employment Like 0 Dislike 0 I've previously owned homes, have excellent credit, but was out of work for 5 months and have only been at my new job for 2 months. How long do I have to wait before a mortgage company will allow me to purchase a new home.
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Sun Apr 10, 2011 9:10 pm    Post subject: Like 0 Dislike 0 Hi emk, You need to show two years of employment history in order to get a mortgage to buy a home. If you can show two years of employment history, then you can get a mortgage now. However, in order to get a mortgage, you should have a good credit score as well. Thanks
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Apr 11, 2011 11:59 am    Post subject: Like 0 Dislike 0 emk, the real answer to your question is only going to be determined when you speak with a lender. Are you in the same field that you were in prior to your unemployment period? Have you switched careers? Are you making a better, or lesser, salary? Did you maintain your credit standing while you were out of work? Visit a few lenders, or call them, and ask specifically what their needs are. That's the most effective way to get a specific answer to your question. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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