Home Buying in Indianapolis>Question Details

Vkerdely, Home Buyer in Noblesville, IN

Can my husband and I qualify for a mortgage? Limited Work history...fresh out of college

Asked by Vkerdely, Noblesville, IN Mon Apr 29, 2013

I am a graduate student on a $2000 a month stipend for the last 2 years with a credit score (vantage not fico) 828. My husband has been working at his current job for a little over 1 year and makes $1800 a month. We are looking to buy a house from $60k-$65k in the beech grove area and have 20% down payment.

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Wow, everyone is replying to your email. The reason is that they all know that typically your years of college count as work history and your income sounds awesome. Your credit score sounds awesome too but that could be off if you got it from any web sites because the lenders always say they use a different algorithm to calculate than any of those. But, you should be able to buy anything you want, especially in Beech Grove. My office is in Irvington just North of Beech Grove by about 5 min straight up Emerson Ave. I live in Wannamaker, again , not far since a lot of time I even shop at that Walmart in Beech Grove or on South Emerson.

I guess, the main question is who would you like to work with and trust to get you where you need to be in a time frame that is best for you. I've been selling homes for 17 years and LOVE it, I love getting folks into something perfect for them and making sure there are no obstacles. The important thing to remember, also, is we aren't sales people because we don't have to convince you to buy.. you already know you want to buy. We are consultants to advise you and keep you on track through out the whole process.
I would love to have you work with a lender I know and trust: Jack Overy of Caliber Funding O. (317) 550-2306 cell (317) 590-7858 http://www.caliberfunding.com/jovery Online application. Tell him Jackie Sent you.
Actually, I know Beth below and she is a great REALTOR as well. Thanks,
Jackie Lovell
Artisan Realtors
5610 E Washington St. Indianaplis, IN 46219 (317) 332-7547 Best Wishes
1 vote Thank Flag Link Tue Apr 30, 2013
This was me and my family just three years ago. Fresh out of college with four kids. And the answer is yes you can. Call Jamelle Walker he is an agent. He will do wonders.

Phone 317-453-0917
jamellewalker2002@yahoo.com
website: jamellewalker.kwrealty.com

He will answer all your questions. He will go above and beyond. He will do all the footwork. He is great.
0 votes Thank Flag Link Sun Jul 7, 2013
The best way to answer your question is for a lender/mortgage professional to complete a pre-approval for you. They will be able to go over financing options that best suits your personal situation.
0 votes Thank Flag Link Tue Apr 30, 2013
Our company has been right here in Noblesvillle for 25+
We would gladly help you. Based on your post it sounds like there are a few options that's hold work for you
Please call me at 317-385-4768 or 765-288-9434
Respectfully,
James Dix
0 votes Thank Flag Link Tue Apr 30, 2013
Good afternoon Vkerdely,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Apr 30, 2013
Hi, it looks like you should be able to qualify. You should get pre-approved by a lender before you start looking though so that you can make an offer when you find a home you like. I can give you the contact information for 3 experienced lenders who I trust. Feel free to give me a call. (317) 667 5131

Beth Powers, REALTOR
F. C. TUCKER COMPANY
0 votes Thank Flag Link Tue Apr 30, 2013
Based on information given, should be fine. I will give you two names of qualified mortgage reps: Michael Holl Tucker Mtg-317-844-4200 and Alan Cohen 317-513-3056. Disclosure: Michael Holl is affiliated with Tucker Company and Alan Cohen is my cousin. Either one will do an exceptional job for you. They are fast, concise, and will go to the ends of the earth to help you. Good luck and best wishes. Fran Lazerov, CRS,FC Tucker Company First Vice President Residential Division.
0 votes Thank Flag Link Tue Apr 30, 2013
Yes you should and you may not even need the full 20% down. My lender has a program available that pays your down payment! I work and live near Beech Grove and would be happy to talk to you about this and get you on the right track. Please feel free to call me at 317-416-7628 or email me at jodysellsindy@att.net
0 votes Thank Flag Link Mon Apr 29, 2013
I agree with Michael. There's great lenders out there, such as:

Ebe Cotton
1st Signature Lending
NMLS#150082
317-695-0905 Cell
317-585-0300 Office
317-219-4428 Fax
http://www.EbeCotton.com
0 votes Thank Flag Link Mon Apr 29, 2013
The short answer is yes...but you may want to talk with a lender just to be sure. If you need a recommendation, I have a great one for you.
0 votes Thank Flag Link Mon Apr 29, 2013
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