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Answers (5)
- Wayne Brown, "SDMortgagefinder"
- Contributions:1433
Find a good mortgage broker in CA to assist you. There are many here on Zillow.
Know this post is a few days old, but hope this helps.
Good Luck
Know this post is a few days old, but hope this helps.
Good Luck
- Robert Walker, "So Cal Agent"
- Contributions:1425
Your best option is to contact a local lender that you want to work with. From experience, you want to have a pre-approval, not a pre qualification, from a direct lender, being a big corporate type bank (Bank of America, Citibank, Wells Fargo, Chase, etc...)
Guidelines are very strict right now and, yes being on the job for two years and having a rent history if you don't currently own is almost a given. Are there exceptions? Everything depends on the lender, government incentives, and the day to day changes in guidelines.
If you have been on the job for a week or even a few months, it does have a huge effect on your loan eligibilty. A carrot at the end of the stick that pulls you into someone's office is just that, a carrot at the end of a stick. When you sit down in front of the loan officer, that is when the true facts are disclosed to you.
Guidelines are very strict right now and, yes being on the job for two years and having a rent history if you don't currently own is almost a given. Are there exceptions? Everything depends on the lender, government incentives, and the day to day changes in guidelines.
If you have been on the job for a week or even a few months, it does have a huge effect on your loan eligibilty. A carrot at the end of the stick that pulls you into someone's office is just that, a carrot at the end of a stick. When you sit down in front of the loan officer, that is when the true facts are disclosed to you.
- Yuval Degani, "Dream Town Realty"
- Contributions:67
Actually most of the time unless you are self-employed having employment is the only thing that counts to lenders not your time on the job. Rental history (unless you've been evicted and it's on your credit report) has no baring on your loan eligibility.
Anything else you need to know should be explained to you by your mortgage person.
Anything else you need to know should be explained to you by your mortgage person.
- CulverCityRealtor
- Contributions:455
Dear Andy,
Usually the loan officer will want to see a two year history for work. They will look at your income against your debt to see if you will qualify for a mortgage loan.
Usually the loan officer will want to see a two year history for work. They will look at your income against your debt to see if you will qualify for a mortgage loan.
- Harold Sharpe, "Harold Sharpe"
- Contributions:24
Hi Andy Milli,
You might want to review the steps involved in buying a home.
http://www.southern-california-home.com/buyingahome.html
You will need to contact a direct lender.
There is a quick list on this website so you can qualify online.
http://www.southern-california-home.com/qualifyforasoutherncaliforniahome.html
usually 2 years job history with stable income is what they begin to look for. Each person is different and has different situations.
They look at how much you spend to qualify money wise. you may want to see what you qualify for money wise on this site.
http://www.southern-california-home.com/mortgagecalculator.html
Then you can choose some properties to look after you get qualified here.
http://www.southern-california-home.com/homesearch.html
I wish you the best in your Real Estate Search.
Harold Sharpe
So Cal Homes Realty
951 821 8211
www.socalhomesrealty.net
You might want to review the steps involved in buying a home.
http://www.southern-california-home.com/buyingahome.html
You will need to contact a direct lender.
There is a quick list on this website so you can qualify online.
http://www.southern-california-home.com/qualifyforasoutherncaliforniahome.html
usually 2 years job history with stable income is what they begin to look for. Each person is different and has different situations.
They look at how much you spend to qualify money wise. you may want to see what you qualify for money wise on this site.
http://www.southern-california-home.com/mortgagecalculator.html
Then you can choose some properties to look after you get qualified here.
http://www.southern-california-home.com/homesearch.html
I wish you the best in your Real Estate Search.
Harold Sharpe
So Cal Homes Realty
951 821 8211
www.socalhomesrealty.net
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