how long do you have to be on a job or cosign for someone, even if you have good credit,?

Question

before you can buy a house or a trailer in SC or anywhere

Answer 1

It really depends on a lot of variables...your credit history, the amount you are borrowing, how much you have cosigned for (it counts the same as taking out a loan for that much), your credit score, your employment history, etc. I've bought houses before and only been employed for weeks, but I had great credit, previous mortgages and a history of consistent employment. It didn't hurt that I have a history of paying of mortgages either.

Answer 2

It all depends on which state you live in, and also on the financial institution you are dealing with. Each bank of credit union has it own rules, so you have to check it out.
You are getting two terms mixed up, I do believe. Being on the job and qualifying for a mortgage loan has nothing to do with co-signing for someone Else's loan.
If you belong to a credit union, go there and talk to a service rep. He/she will be able to explain it to you.

Answer 3

If your credit history is very strong, sometimes you just need to be on a job for 30 days to secure a traditional conventional mortgage loan.

It also depends on down payment, debt ratios, reserves, etc.

The stronger the applicant, the less dependablility on job length.

Answer 4

It doesn't matter how long you have been on your current job. It matters how long you have worked in the same field. For instance, you may have only been working as a secretary at APEX Corp. for 3 months but you have worked as a secretary at other places for 10 years.

The lender is mainly looking for gaps in your employment, so just make sure you go straight to a new job when you quit one.

Answer 5

You have to be at your job anywhere from 6 months to a year

Answer 6

two years in the same feild if not the same job for most conventional (fannie/freddie) programs. Exeptions can be made