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Short employment history

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John Gilstrap Guest	Posted: Thu Oct 20, 2011 12:27 am    Post subject: Short employment history Like 0 Dislike 0 Hello there… I will be applying for a mortgage within a few months. But I have a relatively short employment history – just 2 years. I have one personal loan of 8k with 3 years left and no other financial obligations. I make 57k a year and my score as of today is 713. The house I want is around 107k in price. Will I be able to get a mortgage with such a short employment history? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Thu Oct 20, 2011 12:43 am    Post subject: Like 0 Dislike 0 Hi John, Your credit score is quite good which will help you in getting qualified for conventional loan. The lender will normally check 2 years of employment history in order to qualify a person for a mortgage. As you have 2 years of employment history, there are high chances that you will qualify for a mortgage. Thanks, Jerry
eric1 Community Expert Joined: 04 Jan 2009 Posts: 1511 226.93 Dollars($)	Posted: Thu Oct 20, 2011 11:10 am    Post subject: Like 0 Dislike 0 Two years is more than enough. Plus, if you were a student, in the military or various other situations prior to your employment.... the bank may allow slightly less than a two year work history. Just ask someone for a Mortgage Rate Quote and find out if you qualify. [External link deactivated as per forum rules. Thanks.] _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote
helpfuljohn Joined: 20 Oct 2011 Posts: 22 4.66 Dollars($)	Posted: Mon Oct 24, 2011 5:22 pm    Post subject: Like 0 Dislike 0 You should be fine. Provided your employment history shows a stable income during the period of employment your should be able to get your mortgage approved. Banks don't seem to be as comfortable lending to people with a commision based/fluctuating income as they do to someone with a steady regular paying job. _________________ Looking for a Home Equity Loan or Line of Credit? Find a lender in 2 clicks.

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