how long do i have to be on a job to get a home loan?

Answer 1

There are many more factors involved than just how long you've been employed. If you've recently changed jobs but have a long steady work history, you should still be fine. If you're 18 and this is your first job, you probably dont have any credit built up and you will never get a stand alone mortgage.

Answer 2

As long as you are in the same field, say an IT job, it's okay and you don't have a waiting period at all. If you are going from field to field and not sticking with the profession you are trained/degreed in then it'll be harder for you to get a loan, but not impossible.

Go to a real person, not a website, like a loan officer at your bank and ask them to help you figure out how much house you can afford. Take your tax return from last year, your most recent paycheck stub, and your credit report.

Do this on your own: get your credit reports, find out your FICO score, and don't pay anything for them. The only info you need is the free stuff, believe me. Take all of this free information with you to get your loan, so they don't charge you $25-50 to "run" your credit report.

Under the FACT Act amendments to the Fair Credit Reporting Act you are entitled to one free credit file disclosure in a 12 month period. To request this free annual disclosure you may contact the Central Source on-line at www.annualcreditreport.com. You can also contact the Central Source to request this free annual disclosure by calling toll free (877) FACTACT or by using the mail request form available at the central source website by clicking the following link www.annualcreditreport.com.

Good luck!!

Answer 3

Actually, it depends more on your credit. if you have great credit, you can actually get approved before you even start your job. I do a lot of loans for those who are just leaving school, and starting their careers. So, you can actually get approved as long as you have a letter from your employer stating what your salary will be. Keep in mind, it must be a salary job. A commsiion based jon will be scrutinized farther, because the bank cannot figure how hard you will work, and how much commission you will make. But a salary job is cut and dry. Good luck!

Answer 4

I looked into a home loan last year when I was at my present employer for about 6 months. The mortgage lender said for my credit rating she would recommend at least a year, then at least a 20% down payment on the house I was interested in at the time. Well i've been at my present company for over a year now, and hopefully will be getting a good raise tomorrow, so i'm hoping that starting around summertime, I can start looking at condos/townhomes in my area. Good luck to you!

Answer 5

1 year

Answer 6

it relies upon upon your individual circumstances. They ask you to record a 2 3 hundred and sixty 5 days artwork heritage besides the indisputable fact that it does no longer could be interior of an same pastime. in case you come across a position interior of an same line of work you had in the previous you may no longer opt for to attend in any respect. no matter if you commence in a sparkling field achieveable be licensed if the outlook for persevered employment is solid. Your credit status and down charge will also help tip the size on your opt for.

Answer 7

checkout the home loan information site It's help you hope visit

Answer 8

usually at least two years - unless you have a big (. 40%) down payment,

Answer 9

It depends on how much you make. If you're making $100K or more, one year is enough.

Answer 10

at least 2yrs to show stabililty, at least 2yrs good credit as well