Question:
I dont know if there is a specific time period if you have recently changed job...? cheers :)
Answers:
It can vary from Mortgage company to maortgage company and your 'balance of risk' e.g what sort of contract of employment you have. Basically the bank wants proof that you are going to be able to meet those repayments for the next X amount of years! However usually it is 6 months minimum.
You should be able to apply straight away. I got a mortgage before I had even started a new job. I just had to provide a copy of my contract with the new employer to prove it was a permanent role and what my salary was going to be.
The answer you got that lenders want six months is totally inaccurate. People change jobs, move to new areas and buy houses simultaneously. It happens all the time. that's called relocation. At any rate, it depends more on if you have established credit, pay your bills on time, and have income sufficient to meet payments than your length on this job. Have you saved money for a down payment and closing costs? 20% down will make you desireable, if you have a good credit rating--even if you are new to your job.There are plenty of loans for first time home buyers,too. But, don't be in a hurry to buy now. The market is losing ground in most places. If you wait awhile, you may pay less. Good luck.
HI THERE,
HAVE YOU BEEN SCAMMED IN THE PAST OR DO YOU NEED A LOAN BUT HAVE BAD CREDITS.
Then worry no more, talk to jack christian via; wecareloan@yahoo.com
AT we care care loans we take care of you and your problems, we do not just solve your problems, we become your friends, try us and see God working through us,
to stop greedy scams from taking advantage of you.
WE CARE LOANS, TRULY WE CARE!
You need to settle down a little bit. The mortgage company will need to see if the job is going to be steady for a while. You need to start saving some money. It costs a lot to buy a house - the closing cost, the taxes, the furnishing and all other unforeseen costs. Oh, if you signed a contract to be on your job for at least five years you can start thinking about buying a house. It takes a lot of planning and projection to take the brave step. Remember, the banks are always ready to come to your 'rescue' by taking the house from you if you miss payment two to three months. You do not want to give all you've got to the bank.
a year to get the best rates
This article contents is post by this website user, HiAnswer.com doesn't promise its accuracy.
More Questions & Answers...