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Lorna M. Dob…, Other/Just Looking in 02904

Can I get a house if I'm on Unemployment insurance? I had been employed for 5-1/2 years at the same company.

Asked by Lorna M. Dobson, 02904 Sun May 23, 2010

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Lorna:

Unemployment Insurance is only temporary. You need to find new employment ASAP, both for your own good and for you to qualify for the mortgage loan that you want. Lenders look for continuous emplyment as part of the underwriting process. So, it would be good to find new employment before your employment runs out.
1 vote Thank Flag Link Sun May 23, 2010
No... you need employment. Once you have employment and if it is in the same field then perhaps. Unemployment benefits run out so it is unstable to give a loan. After you find a job... go a lender and see where you stand. They will tell you what you need to do to qualify.

Good Luck and I hope you find a job soon!!!
0 votes Thank Flag Link Sun May 23, 2010
In order to qualify for a loan you need to be employed first--consider finding employment first, and then visit with any qualified loan officer and see if you qualify.
0 votes Thank Flag Link Sun May 23, 2010
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