Posted on: 16th Mar, 2009 02:01 pm
My fiance and I are getting married in Sept. He is in the National Guard and lost his civilan job after a tour in Afghanistan. He now landed an amazing job working for the military. I have had steady employment for over 7 years. We can't get a VA loan since we are no married yet. We both have great credit and aside from car payments no debt. Will a lender give us a loan? Or will we be rejected for the next two years do to his unemployment?
If he was unemployed due to his tour in Afghanistan, then that is acceptable and his lack of a two year work history will not be used against him. He will simply have to document (prove) that he was in the military and will also have to document his new position and earnings.
Hi xoxleahmariexox!
Welcome to forums!
I agree with Eric that your fiance won't face any problem in getting the loan as far as his income is concerned. However, according to the new requirements, he should have a credit score of at least 620 in order to get a VA or a FHA loan. If he is planning to take a conventional loan, then he should have a credit score of 700-720.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I agree with Eric that your fiance won't face any problem in getting the loan as far as his income is concerned. However, according to the new requirements, he should have a credit score of at least 620 in order to get a VA or a FHA loan. If he is planning to take a conventional loan, then he should have a credit score of 700-720.
Feel free to ask if you have further queries.
Sussane
How long was he unemployed for? They will want you to write a letter of explanation why he had a job gap. You should not have any problem getting a mortgage if he wasn't laid off for too long.