Can I still qualify for a mortgage if I have to go on unemployment briefly?

Hi Kristi! If your unemployment is considered "seasonal", it may qualify, but you would need to prove a 2 year history of collecting this unemployment. If you are getting paid on a per diem basis, I would doubt that this income could be counted, unless again, you have a 2 year history and can get a letter from the employer the provides documentation of your minimum hours per week of per diem work. Good Luck!

Good morning Kristi. Collecting unemployment will not hurt your chances of obtaining a loan however, you and your fiance will need to qualify for the loan based on your income assets, and credit and your new part time employment may not be able to be used to help you qualify. If you'd like to have a discussion I would be happy to have one with you. I can be reached on my cell at 732-684-5771. Thank you Kristi and have a great day.

Not an easy question to answer without knowing all the numbers.. but in general, you can collection unemployment, but the income will not be considered when evaluating your debt to income ratios.. Lenders require that your income has the potential to continue for 2 to 3 years, and unemployment is not a stable form of income.. So long as your fiance earns enough income on her own to qualify for the home, you should be ok.. but your part time income and unemployment income is not likely to be considered. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Hi Kristi..Why don't you give me a call and I can answer all of your questions. Sharon

By going on unemployment, you will not hurt your chances of qualifying for a mortgage. However, you and your finance must make enough income to qualify. You will be asked to provide a two year income history, which will prove how much you make a year and can be expected to continue making each year with your current employment position.