I expect to purchase a home in the next 6-8 months and have been reading up on buying and mortgages, but just realized I might run into a challenge:
1) I have excellent credit (805),
2) I have approx. 100K in savings, but
3) I've been doing temp work for the last year and a half, during which time I've been living w/ my parents. Prior to that I was most recently making ~55K/yr. and had been paying rent of over 1500/month in Manhattan. I'll be receiving an offer of a permanent position at the employer I've been with for the last 6 months, and have been trying to come up with a salary range adequate to cover a mortgage in my area, but then realized - will my recent temp history be a big problem? How long of a permanent work history is recommended to get a good rate?
After 13 yrs of paying rent, I refuse to do so anymore, and wonder if I should be looking at mobile homes instead of property I thought might be in my range (200K-250K)!
Many thanks for any help.
2007-02-06
11:19:27
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6 answers
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asked by
Jennifer
2