How long do you have to have your current job before a bank will give you a loan on a condo? I work for a software company making a pretty decent amount of money. I graduated college 14 months ago and have been working for the company for 8 months. Would anyone give me a loan?
2007-03-16 23:12:09 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Jamie W doesn't know what he/she is talking about.
Typically lenders want to see two years of continuous employment. However, if your employment is in the same field as your degree, your time in school will count.
Your credit score is key, and any lender that gives you a quote without knowing your credit score is lying to you.
Contact Julie at http://primelendingonline.com
Woof.
2007-03-17 02:14:47 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I'm sure that there are companies that will consider you for a loan. I disagree with the above answer for finding one, though. I would not check online, because the company can tell you anything you want to hear just to hook you in.
Ask your coworkers and boss who they would recommend and set an appointment with that person. Then sit down and give your basic information, without giving your Social Security number. This way they can't run your credit - thge person above is exactly right on the fact that the company can hit your credit score with any checks, and this lowers your score.
You will get a good faith estimate, then you can make your decision from there. A good Realtor can also help you to figure out whether or not the figures given to you are valid.
Best of luck!
2007-03-17 02:16:27 · answer #2 · answered by trblmkr30 4 · 0⤊ 1⤋
At your age with a good credit score and decent income you should be a great candidate for a loan. SHOP, SHOP, SHOP. Be carefull though. Every time your credit is run it counts against you.
And it is true not just for online lenders-they are in sales. Some people in sales will tell you anything to get your business. Get some advice too from your folks and friends who have been through the process.
Do your homework-it is an important step in your life.
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2007-03-19 04:01:48 · answer #3 · answered by annalisa.fontana 2 · 0⤊ 0⤋
Alot of places will actually. E-mail me and I'll help you out with your loan. I work for a mortgage company and we have lenders who will actually use your college records to help supplement your employment history.
2007-03-17 02:58:22 · answer #4 · answered by Amber J 2 · 0⤊ 0⤋
Yes, there will be companies that give you a loan.
If your fico is 720 or higher,t hey will be falling all over themselves to get you a loan.
2007-03-17 03:11:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋
yes you get a loan go for it I wish you all the best on your new home good luck
2007-03-17 05:54:38 · answer #6 · answered by pattibcacl 6 · 0⤊ 0⤋