BEST ANSWER
FIRST ANSWER
Becky,
Great question!!! the simple answer is yes and no.
If your work history is consistent and have your tax returns to bolster your work history it should not be a significant problem. If there is a noticeable gap in your work history I recommend drafting a letter that explains the time off from work.
When you go in to speak to a lender (be it a bank or mortgage broker) it is best to come prepared. I encourage my buyers to have a package of information put together first. Items that should be included in the package most times include; 2 years tax returns, several months of pay stubs as well as bank statements. Each lender will have their own list of requirements.
It is also good to shop around for a lender that will give you the best deal for your financial situation. the best credit rate you qualify for, cost of buying down points, etc...
I hope this helps. If you have additional questions feel free to contact me directly.
Wed Jul 8 2009, 13:20