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How to obtain mortgage as temporary employee?

I've been working for a staffing agency the last few years and they placed me in my current position last December.  I work 40 hrs a week except for holidays and snow days.  The company wants to transition me from contract to permanent early next year.

Are there any lenders out there who would approve my mortgage application if the company provided a letter of intent to hire?  The house I'm looking at is 2x my current income and I can do a 20% down payment.  My credit score is excellent. If you know of any lenders or happen to be one, I'd love to hear from you.
  • July 07 2013 - Saint Louis
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Answers (5)

Best Answer


"Intent to hire" letter is useless; no guarantee you will be hired,and you must have at least 30 days pay history in the file.

BUT...If you work as contract employee and have done so for at least 2 years your averaged income for that time period is effective income for mortgage qualifying.
  • July 07 2013
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It might be possible, but will have to be decided on a case-by-case basis. How do you get paid? Are you a W2 employee or a 1099 contractor? Have you been in the same industry for 2+ years? Did you have any gaps in employment? Once you answer these questions, I can see if we can approve you for a mortgage.
  • October 14 2014
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Profile picture for Chris Bosh
F**K banks/lenders and the scumbags on wall street. My tax dollars bailed them out and now I can't get a home because of this exact same bull. If you work in finance or for a bank your a scumbag low life bottom feeding piece of gutter trash, when we all truly hit rock bottom(which we will) I hope all of you who think your sitting high and mighty starve out on the street.
  • September 15 2014
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The key to convincing lenders is to prove to them that though you work as a temp, your monthly income is stable. To prove that you are financially stable despite working as a temp, you'll need to provide your lender with copies of key financial documents. These include, of course, your last two to three years worth of income-tax returns. But you'll also need to send lenders your last two months worth of savings and checking account statements, last two paycheck stubs and, possibly, your last two months worth of credit-card bills.
  • September 20 2013
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If you have a 2 year history working for a staffing agency and you are still oon their payroll (eg not a 1099 contractor for the company they placed you with) then I believe most lenders will allow you to average your last 2 years of income or possibly 2 1/2 (1/2 of 2013, 2012 and 2011).  There is such a think as permanent staffing company employees.  For example this is common in nursing. 
  • July 07 2013
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