Best mortgage for first time buyer with 1 yr work history

hi: Since we are a bank lending nationwide, we can accommodate different scenarios with compensating factors. Are u currently renting etc? have some other questions to ask you before I go to my direct underwriter for your case if you would like. Definitely FHA we can do. Is your salary still 50K presently ? Mike (703 505 5300) NMLS 754875..can give u a no obligation comparison if you'd like.

There are many programs available, 100%, no money down, fha, usda.

Seek out a local mortgage broker from our panel in you would like and they can go over all the options, we don' service IN, but you could possibly CONV or FHA..Good Luck

You typically need a 2 year work history, but if you're a college graduate working in the field you studied in, you may be able to qualify with 1 year. As for student debt, the lender is going to look at your monthly payment, not your total debt. You may be able to qualify for a conventional loan with 5% down, or a FHA loan with 3.5% down (but beware of higher fees) and if your parents will gift you a 20% down payment, that would be a good option too! I'm in California and don't lend in Indiana, so best bet is to sit down with a local home loan agent and go over your options. Lots of luck!

Hi 1_jakeorzo, As long as you're working in the same field that you studied your time in school actually counts as work history! If your student loan are in deferal for at least 12 months after closing, FHA does not require lenders to count the monthly payment against your income. Please feel free to contact me for more information or help. John Burke | Senior Mortgage | Great Plains National Bank | http://www.fhamortgagesdoneright.com | (877)228-9069 | Lending in ALL 50 states |