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where in Oklahoma City, Ok. can you get approved for a home loan with 8 months employment?

I recently got pre- approved for a conventional home loan, then went thru all the home inspections, etc. Then the bank came back and said i was NOT approved due to not enough employment history. Where can you get approved for a home loan in oklahoma city, ok. with a credit score of 700 and employment is less than a year?
  • April 04 - Oklahoma City
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Answers (4)

What were you doing before your current employment? If you were in school then you can possibly be qualified. Some lenders will allow school as substitution for the required 2 year work history. So if you fall in this category you can possibly obtain a mortgage with the right lender. If you were in an unemployment gap, that would need to be closely examined to see if you can obtain a mortgage under that situation. Either way, the best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
  • April 07
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Hi,

In order to qualify one's current income, one has to have a documented 2 year work/student history prior. If you were in school and you recently graduated and just landed a job out of college or graduate school you can get a mortgage with just an offer letter from your employer, diploma and official transcript from your school, and 30 days worth of pay stubs from your current employer. 
If you were working a few years ago and stopped working, and then you began searching for a new job, you can document that your were actively seeking a job. The best way to document that is showing that your had an internship or part time work in a similar job or went to school for some type of certificate to enable you to get your current job.
The guidelines regarding work history will not change from one lender to the next in Oklahoma City, what could change is the Loan officer you deal with that can help think out of the box and put the puzzle pieces together.
Best,
Eli Sklar
  • April 05
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What were you doing previous to your employment?  Please elaborate on that . . .
  • April 05
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Our mortgage division headquarters is in Oklahoma City.  Depends upon what you did prior to the current employment.  School / education counts toward the two year employment history requirement if that can be documented.
Shame on whoever gave you pre-approval without doing their end of the deal to confirm the pre-approval was real and valid before you started spending money on inspections etc..
  • April 05
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