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Applying for a loan after being a homemaker for years

Is it possible to do a conventional refinance if I only have work credentials for a year? I’ve been working in the IT industry for 5 years and stopped in year 4 and became a homemaker and I am now back to work now for a full year. What are my chances of getting a loan? by gward698 from Cunningham, Tennessee. Feb 3rd 2022 Reply


Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions

Conventional financing does require a two yr work history....

Feb 4th 2022
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Conventional mortgage rules require you to have a minimum two-year work history - IN your entire life. With one year back to work, and the previous history, that should not be a problem for getting financing today. I lend in MN Wi IA SD ND. Find me at JoeMetzler.com, Cambria Mortgage, NMLS 274132

Feb 5th 2022
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DOUG CAPPS (DOUG CAPPS)
#1 ranked lender in Mississippi - 208 contributions

With a large job gap, you would need to be back to work for a minimum of one year - along with documenting a full two year work history prior to the gap.

Apr 3rd 2024
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