Posted on: 24th Sep, 2013 02:09 am
Is it mandatory to be employed for 2 years to get a mortgage or are there banks who can work with you even if you have less employment history?
There are hardly any banks which will work with you if you cannot show 2 years of employment history.
Hi Brunei,
Yes, a minimum of 2 years employment history is mandatory. Without that, the lenders may not consider giving you a loan.
Thanks
Yes, a minimum of 2 years employment history is mandatory. Without that, the lenders may not consider giving you a loan.
Thanks
There are exceptions to this rule. If you were in college for lets say dentistry and you became a dentist and work for a dentist office, then you could obtain a loan, with a 30 days worth a paystubs. Lender will take your school as a 2 year history, as its in the same field as your current work.
Yes, it is ofcourse mandatory for you to be employed for at least 2 years if you want to get a mortgage loan. This will make your lender understand that you've been holding your job for 2 years responsibly and thus, you'll repay the loan you are taking out on time.