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Home loan with 1+ years of credit history

Hi,

I am planing to buy a home around Berkeley, IL. But below are my concerns.

I came to US last year on Green card, so I am having around 17 months of credit history. I worked for different companies at different locations. Initially my work location was NY then NC, 2 months back I completely moved to IL. My annual income is 85k. My wife is having excellent credit history but she doesn't work.

Will I get home loan with above concerns, please suggest.
  • August 14 2013 - Berkeley
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Answers (5)

Profile picture for John Paunan
It's all about what Fannie Mae or Freddie Mac automated underwriting say. Sounds like it should work as long as you have credit scores. 
  • August 19 2013
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I just approved someone with a similar situation.  It sounds like you should be good to go.  You need to get a full mortgage application to find out the options.  Although I originate only in California..  
  • August 16 2013
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You should be good!  It does depend on the AUS Approval system!  
  • August 16 2013
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Profile picture for Andrew Malak
Should be OK. In the worst case I have someone who will do it with 40% down.
  • August 15 2013
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Profile picture for GMerino

Having 17 months of credit history is perfect so long as you have a credit score, which I would imagine that you do.  You work history as long as the loan officer fills out the application correctly and you are now settled in IL there should not be any problems. 

Best thing to do is go through the pre-approval process to see if there will be any conditions if any.

  • August 14 2013
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