what mortgage options are available for first time home buyers. and is there a qualification number of years working at one job?

Hi you have options but all are based on credit score and total debt to income and total loan to value so to get more detailed info you will have to have credit run and income and asset and employment info so a full application. So please call and or email me Rob Oliveira with Residential Mortgage Services in Dartmouth,Ma. 508-802-0935 or email me at roliveira@rmsmortgage.com Thank you

FHA is the most popular with a 3.5% down payment. After that there is Mass Housing and some 3% down FannieMae and FreddieMac. What goes into which program is best will depend on your credit, income, employment and debt situation as well as the type of home you wish to purchase. A seasoned Loan Officer can help show you the best products and options.Lenders look for a 2 year employment history. If you have less than 2 years at your current employer, then your previous employment will be OK as long as its the same line of work and there was not a lengthy gab between jobs. If you were in school prior to your employment, that can count as part of the work history.

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Hi Greg,There are some options for first time homebuyers that primarily center around minimum down payment requirements and your credit scores. Mass Housing loans are a great because they allow for as little as 3% down and have lower mortgage insurance cost. The qualification is a little tougher than an FHA loan which allows as little as 3.5% down and credit scores don't have to be as high. The standard FNMA loan allows for as little as 5% down. The underwriting guidelines look at your two year employment history, not necessarilly at home many years at the same company. Stable employment and income is what the underwriters are looking for. Call or email for any details on these programs.

All mortgage options are available, but the 3 best are FHA, VA and USDA. With FHA, you'll need 3.5% down. With VA and USDA, the down payment is 0.You'll need 2 years in the same line of employment.

Usually the type of loan product you go with is dictated by how much money you have to put down. FHA requires 3.5% down, credit score ideally 640 or better. USDA, in select areas will do 100% financing, and Ideally 660 credit score. Conventional Financing usually requires much better credit and more down payment... 5% to 20%, and ideally credit score over 660. How long you have been on your job is not as important as how long in your field, and how do you get paid... IE, hourly, salary, commission, or self employed. contact a local mortgage broker, not a bank and apply with them. they have a vast number of lenders they deal with and can match your particular scenario with the right one.. WilliamAcres.com