How can I acquire a loan with limited work experience.?
I'm planning to buy a home with a 20% down payment and am looking for a loan for the rest. I just graduated college last summer and began working this past january. I have heard that you need at least 2 years work experience to acquire a home loan. Are there any methods I can acquire a loan? I have also heard that if I obtain a job in my field of major, then my college experience can count as work experience. Any truth in that?
Thanks
It's true that they will waive the job time requirement if you were in college. Sit down with a trusted mortgage broker to discuss your options.
I am a mortgage broker. If I can be of service, please let me know!
Martin Smith
Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com
Besides shopping around for conventional lenders and mortgage brokers, you could also purchase a home NOW using creative financing. I recommend that you also shop around for a good realtor, who has experience negotiating deals using creative financing, concurrently.
Huy,
Our recommendation is to "get your feet wet" and begin by meeting with several lending specialists. By getting the perspective of several different individuals you will be able to get an accurate feel for the options available to you.
Don't wait on the sideline to get into the game........start collecting information now.
Good luck
The Eckler team
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