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45420 : Real Estate Advice

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Activity 4
Tue May 10, 2016
Melissa Mcduffy answered:
Your biggest problem will be your career. Lenders tell travel nurses or agency nurses that their work is unstable and they are high risk for default. they obviously have no idea how travel nursing works and that travel nurses can always find a job! But many are getting turned down and some have had to take staff positions making way less than income just to be approved for a mortgage. They will all pre-approve you. That means nothing, its getting through underwriting that matters. Lenders are shooting themselves in the foot by not giving travel nurses loans for housing. It is ridiculous. I had a lender tell me they could NEVER give me a mortgage loan no matter how long I was employed by the company Ive been with for 7 years and never lacked work with and Im local Memphis area agency nurse, all because of the nature of per diem work, or contract work. Good luck, some say going to smaller banks may open a door, but the big lenders will deny you. Doesn't matter if your credit score is 800 and you have a down payment. Best deal is to save up the money and pay cash, or buy land first and pay it off so you have leverage also. I will never leave my career, I have more stable work than any nurse I know and lenders should be begging me to get a loan with them. smh ... more
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Thu Jul 25, 2013
outinleftfield77 answered:
Sat Mar 23, 2013
oneanswer asked:
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