Home Buying in 20707>Question Details

Elevatorsolu…, Home Buyer in Laurel, MD

I've been self employed in the same line of work for years, if I become a W-2 employee, I've been told that I could qualify after the first month?

Asked by Elevatorsolutions101, Laurel, MD Fri Jul 19, 2013

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5
Yes that is basically true. Most of the time if you get one paycheck you can close the loan ast that point. As Catherine said each case is slightly different. It also depends on credit downpayment etc but yes in general what you want to do isn't that much of a problem. Hope this was helpful.
Let us know if you have any other questions.

http://reviewbrentmendelson.blogspot.com/

Thank You,
Brent Mendelson
Senior Loan Officer
1ST Mariner Mortgage
O-240-235-5314
C-301-412-0259
F-240-235-8236
Bmendelson@1stMarinerbank.com
Lending in all 50 states
nmls#111407
0 votes Thank Flag Link Fri Jul 26, 2013
HI ElevatorS,

The key here is "same line of work". You should be absolutely fine to qualify for a mortgage loan but they may want to see a bit of work history at your new job. This will vary by lender. I have an awesome local lender that I've been working with for 15 years. Never been late on a settlement and never pre-qualified a buyer that didn't go on to get the loan. He would be happy to give you some no obligation advice. If you need help with your purchase our team would love to make it happen for you!

Regards,

Laura Roskelly, Realtor® & Accredited Staging Professional
The Roskelly Team
RE/MAX Leading Edge
Hall of Fame member
410-721-6694 ~ Office
443-926-0090 ~ Fax
410-507-2495 ~ Mobile

Visit us on-line at:
http://www.FortMeadeHomes.com

Find us on Facebook:
http://www.facebook.com/theroskellyteamrealtors
0 votes Thank Flag Link Mon Jul 22, 2013
You should be able to qualify once you receive your first paycheck- where are you looking to purchase a home? I work in PG, Calvert, Charles- I have been in the business for 40 years- let me
know what you are looking for and I can start emailing you listings- do you currently rent?

Kathy Hutchins
Hutchins Property Management
301-785-1995
khutchins@realtor.com
0 votes Thank Flag Link Sat Jul 20, 2013
Hello Elevatorsolutions,

In some cases, as a W2 employee, you can qualify after you receive your job offer letter and in most cases after you receive 30 days of paystubs. Income must be verified by employer as likely to continue and should be in the same line of work.

Each loan scenario is different and this does not represent a commitment to lend.

If you would like to find out if you do qualify, you can call me on 202 573-6035 or fill out my online application at http://www.loansbycatherine.com.

Sincerely,

Catherine Purcell
Senior Mortgage Loan Officer
Fairway Independent Mortgage Corporation
Catherinep@fairwaymc.com
0 votes Thank Flag Link Fri Jul 19, 2013
Hi,

I would suggest that you speak to a lender directly.

If you would like a couple of lenders that would be able to assist you, feel free to
contact me.

Wishing you the best,

Tyra
Web Reference: http://dcmetrohomeguide.com
0 votes Thank Flag Link Fri Jul 19, 2013
Tyra
I would very much appreciate you referring someone in my area.
Grapevine, Texas
Ronnie
Flag Fri Jul 19, 2013
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