He has a high FICO score, 100k a year, and 20% down payment. He has an ending date to his contract in three months. Underwriter wants to see continuation of employment so we had employer write a letter stating that he has been employed for three years and we wish to keep him on in the future. They say not good enough. Is this the final answer? Is there anything we can do?
My husband is government contractor making 100k+ a year, high FICO score, and 20% down payment. He has an ending date to his contract in three months. He has been with his company for three years. We were approved for a home loan but now underwriter is saying they will not loan because he is a contractor. We got a letter from his work saying they wish to keep him as an employee as they have for last three years and average income over last three years is also good enough to qualify. It is a low risk loan, of a mortgage 1,000k a month. Should this be the final answer? Will anyone loan to us?