Home Buying in Mechanicsburg>Question Details

Jdknecht1977, Home Buyer in

Can I qualify for a home loan with a new job? Would I need a co-signer? Looking at new construction townhome.

Asked by Jdknecht1977, Tue Aug 7, 2012

Besides length and salary of employment, credit score, debt/income ratio, liquid (cash, checking/savings accounts) and semi-liquid assets (401k, Roth IRA, other stocks). What other factors?

Left the Army as a Captain in March 2011 and will start with the Navy in Mechanicsburg in September 2012. So I went from great income to little income to good income/secure job. Job also has guaranteed about $10K raise for three consecutive years. I also receive about $15K a year for VA disability compensation (tax-free). Will likely be in Mechanicsburg for 6-10 years (have to be here for at least 4 years) and would like to buy as opposed to rent.

My credit is good, have had a mortgage before (always paid on time from 2006-2011 and sold under normal circumstances), assets a little over $100K. Small installment payments of about $500 a month for student loan and car payment combined. Small credit card balances.

Eligible for VA loan with exemption to funding fee.

Would I need a co-signer?

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Answers

3
You have made some good choices and will reap the benefits. Congratulations and keep going. YES, you should qualify. I do Leasing and Property Management as well as Buyer & Seller Home Sales, and have been licensed and active since 1973!

You may call me any time. Jay Curreri 717-648-5704
Central PA Property Management LLC 717-730-3000
0 votes Thank Flag Link Tue Aug 7, 2012
Jdknecht, thanks for the question. My name is John Loftus with the Joy Daniels Real Estate Group. I'm also our teams new construction manager and represent a team of buyer agents that specialize in only working with buyers. They will get you in touch with the best mortgage lender that will get you the loan you're looking for. We also have a buyers agent I'd like you to meet that was west point grad and was also a VP for a builder here in camp hill.
If its OK with you, I'd like to work with you to get you to the next step. Please call or email me here or at 717-712-4747. Thanks and I hope to speak to you soon.
Web Reference: http://www.joydaniels.com
0 votes Thank Flag Link Tue Aug 7, 2012
I doesn't sound like you would. Just because you switch jobs doesnt usually matter. It is when you just get job or it doesnt pay enough or you dont show your income are the problems. I hope it works out!
I am a Navy vet. Need an agent let me know.
0 votes Thank Flag Link Tue Aug 7, 2012
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