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How long do you need to be employed for a mortgage?

This will be our first home and we have saved $30,000 for down (borrow from parents and joint savings) by coldplayfan984 from Orange, California. Oct 12th 2013 Reply


Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

1 month if you were employed prior to the current job. 90 days if not. If I can help please let me know. www.Mortgagesforamerica.org - P: 888-320-7888 - Ken Burrows

Oct 12th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Depends what you were doing before, the type of job and income you have now, type of loan you qualify for and other factors. In some cases a new job is acceptable, sometimes need a first or 2nd paystub. I don't handle CA, call our office in Irvivne 949-224-8500 or contact someone directly through the website: https://lo.primelending.com/irvine -seems like you shoud have options.

Oct 12th 2013
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

One month, plus previous employment in the same line of work, or college graduation in your current field. Down payment should be in an account in your name, for at least 60 days, longer is better. Borrowing from parents is not a good source of down payment. That would need to be a gift.

Oct 12th 2013
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Jenny Baker (mortgagemom)
#71 ranked lender in Georgia - 26 contributions

This really depends on several factors. Your credit history and loan type will have to be considered. I suggest calling or sitting down with a local lender to review your options.

Oct 14th 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions

It depends... lenders do a minimum of a two year look back. Are you hourly or salary? Are you commission or tipped income? Have you been employed for awhile and just switched jobs? Did you just graduate college and took a new job? All of these different versions all have different answers. Contact a local CA mortgage broker for specific information.

Oct 14th 2013
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Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

Typically lenders require at least two years of employment history. If you are in the same line of work, however and have had the job for less than two years that can work as well. At the very minimum lenders will require at least one month of pay stubs. We are located in San Diego, licensed in all of California. Feel free to contact us at 858-605-0952 to go over your situation in detail and see what employment history you can get qualified with.

Oct 14th 2013
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

It really depends on your particular scenario.. if for example, you just graduated from an accredited school, and your employed in your field of study, then you can get financing as soon as you get your first paycheck.. but as others have stated, lenders will look back 2 years, and require tax returns, w2's to verify your work history and income.. but every scenario is different.. if you want to know for sure if you would qualify, I suggest calling a local mortgage broker, and let him look at your complete profile.. 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. 480-287-5714 WilliamAcres.com

Oct 14th 2013
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