2007-01-04 19:40:51 · 8 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
you have to be in a permanent job for at least 6 months with a good credit rating ie,if you've been blacklisted or made bankrupt they wont touch you with a barge pole
2007-01-04 20:22:36 · answer #1 · answered by nanook570 5 · 0⤊ 0⤋
It doesn't matter if you have been in your job for a day or a year or twenty years. What matters is your credit score and your ability to repay the mortgage. The ability to repay is what determines your interest rate. For your own peace of mind make sure you like the job before taking on a mortgage and realize there are alot more costs involved in buying a home... taxes, insurance, water, sewer, maintenance, etc. It's not just about the mortgage payment so make sure you are living within your means. If you can set aside the difference between your current home expenses and your estimated purchasing expenses for six months, you will have a sweet down payment and know that you are not getting in over your head. You should have at least a savings account of minimum three month expenses as a cushion in case you were to lose that new job. Start saving and then you'll have been in your job long enough. If you have a decent savings account and credit score, any time is good.
2007-01-05 06:11:26 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Normally 2 years of continuous employment in the same type of job (it can be multiple employers, though not more than 2 normally). However their are companies out there that will make exceptions, at a higher rate of interest and/or a larger origination fee. No Docs will be a MUCH HIGHER rate of interest!
2007-01-05 03:44:26 · answer #3 · answered by onottopilot 4 · 0⤊ 0⤋
If your credit is good enough you can do what is called a NO DOC loan. No job, no income, no assets verified. They go up to 100%
2007-01-05 03:43:50 · answer #4 · answered by ograndetyler 3 · 0⤊ 0⤋
it used to be 12 months,but a provable history of steady non stop employment will suffice these days,dont forget the most important thing is a credit history tho.
2007-01-05 03:55:53 · answer #5 · answered by stephen177669 2 · 0⤊ 0⤋
I think that the answer would come down to where you get your mortgage?
* bank
*credit union
*ect.
2007-01-05 03:43:38 · answer #6 · answered by bambambrennie 2 · 0⤊ 0⤋
it doesn't matter as long as the job is permanent & you're not on 'probation'
2007-01-05 03:42:00 · answer #7 · answered by Anonymous · 0⤊ 1⤋
One year at least I'd think.
2007-01-05 03:42:20 · answer #8 · answered by Anonymous · 0⤊ 1⤋