There are some good answers here. I would talk to a local mortgage pro regarding your situation. Also, you say "we" have no problem putting at least 5 percent down. So, the other persons income, credit and assets would be important too and maybe helpful for the qualifications of the financing.
Good luck ! If you need a referral for a mortgage pro in your area, let us know from our site below.
It may depend on the circumstances of your time out of work, what kind of job you are in now and how secure it is. The only way to truly tell if you qualify is to work with a mortgage person like myself or someone else you trust to give you straight up answers. A good mortgage person will work with you to show you how to qualify. Feel free to contact me.
The very best of luck to you! Have a Happy and Healthy New Year!
Michael D Delp
4802 Old Bethlehem Pike,
Telford Pa. 18969
firstname.lastname@example.org http://www.mortgagepro.instantlender.com -
So. First, talk to a local mortgage lender, credit union, etc and see what their requirements are. Some lenders require at least six months. Usually it's a year, but two years may be stretching it. After your lender has you preparing financially to purchase a home. Go find a buyer's agent who will work with you through the whole process without putting you out to the curb.
Good luck and happy house hunting.
Terrence Charest, e-Pro