First Time Home Buyer in Virginia Question...
I am a first time buyer, We are in the market of buying a house and I had a question that do I have to be working at one place for 2 years in order to meet the requirement of getting a loan? I worked one year at one place and second year at different place and still working there, can i still get approved for aloan any input would be appreciated. by sallyf_308_316 from Richmond, Virginia. Mar 7th 2012
Donald LaPlume (dlaplume)
#6 ranked lender in New Hampshire - 47 contributions
Hi Sally,Usually it is not an issue as long as you are in the same line of work. If you are in a different line of work usually it is fine as well for first time home buyer loans. There are circumstances where it can be an issue though so I'm glad you are checking. If you would like I have several free classes available in my online Home Buyer University. Fell free to take a class on me at www.homebuyeruonline.com. If you have any other questions please feel free to drop me a call at 603-543-3700 ext 1.Wishing you the best,Don LaPlume
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
So long as you're in the same general field of work and the same "Type" of income.. So if you went from a salary or hourly job to a sales job where you make commissions, you will have a problem.. Contact a local mortgage broker, not a bank and apply with them.. They have access to numerous lenders and can find the right loan for your particular scenario.. WilliamAcres.com
Phil Goldberg (PhilGoldberg)
#23 ranked lender in Virginia - 3 contributions
A two Year work history is needed. Hopefully your job is in the same line of work which helps tremendously. There are many other factors that influence your ability to be approved for a loan. If you would like, you may contact me at 800-339-1944 and with a short interview (15-20 minutes), we can obtson your information, see how much you are qualified to purchase and answer any other questions you may have.Thanks,Phil Goldberg
Brian Turner (bturner@bankingunusual.com)
#39 ranked lender in Kansas - 9 contributions
As long as you can show a 24 month work history... same job does not matter. If there are any gaps... you will have to explain those
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Lenders want to make sure you have the ability to pay the mortgage payments. They usually will look to stability of employment. One measure of this is two years of recent employment. This does not mean that all two years must be with the same employer. It also doesn't mean that it must be in the same field. True, it helps, but depending on all of the loan factors, not necessary. If your two jobs are similar in nature, then you should have no issues. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
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