What does my employment history need to be to apply for a mortgage?

Good Morning Nashville...Your length of employment should be fine...The bigger concern is your credit score...Let us know if we can help you with this process,,,Thanks RonMoney@RonWohlfarth.com.www.RonWohlfarth.com

You're probably going to get A LOT of responses to your questions. On your existing job time, you should be fine. To address your other questions: Yes, the loan amount matters. Lenders need to insure that you have the ability to repay the mortgage based upon your current level of income and debt. Property value - yes, because you can only "finance" up-to the value of the property. If you are purchasing in a USDA eligible area, then you will be limited to 100%, FHA - 96.5%, Conventional 95%-97% etc.. The minimum down payment required will vary based upon the loan type: USDA, FHA, or Conventional. As mentioned above, if you can qualify for USDA - it's 100%, no down payment. Do you know what your credit score is??? That is a big determining factor as to "can you qualify." Let me know if you have more questions. You can email me at dougc@fairwaymc.com or call me at 800-878-7985 Ext. 105. Thanks! Doug Capps, Fairway Mortgage

The answers here are pretty much the same. Big determining factor is your credit score.I am located here in Murfreesboro, TN.Give my office a call & we can go over your options.ThanksNancy RelefordHome Equity Mortgage, LLC2670 Memorial Blvd Ste CMurfreesboro, TN. 37129www.homeequitymtg.comwww.nancyrelefordblog.com615-867-3060

Hi Nashville.2 years employment history is not mandatory, but sure does help. It is desired to have 2 years in the same line of work, however, I am closing a purchase right now where the homebuyer has only been working for 1 1/2 years period and we are fine with that. To answer your other questions would require a more in depth knowledge of your credit, assets, loan size and a few other factors. Feel free to contact me for more information. We work closely with Nashville Title Agency and close quite a few loans in the Nashville area.Hope this helps. Patrick McCarthy, Stonegate Mortgage 866-925-5771 Ext 520

The reason they look at employment is to make sure you have stable income. Down payment is based what you are pre-approve for.So you first need to get pre-approve first before you look for the house. So you then know what type of down payment you need.