How can I acquire a loan with limited work experience.?

Asked by Huy72983, San Diego, CA Tue Mar 10, 2009

I'm planning to buy a home with a 20% down payment and am looking for a loan for the rest. I just graduated college last summer and began working this past january. I have heard that you need at least 2 years work experience to acquire a home loan. Are there any methods I can acquire a loan? I have also heard that if I obtain a job in my field of major, then my college experience can count as work experience. Any truth in that?


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Bill Eckler, Agent, Venice, FL
Wed Mar 11, 2009

Our recommendation is to "get your feet wet" and begin by meeting with several lending specialists. By getting the perspective of several different individuals you will be able to get an accurate feel for the options available to you.

Don't wait on the sideline to get into the game........start collecting information now.

Good luck
The Eckler team
1 vote
Robert Chome…, , San Diego, CA
Sat Jan 7, 2012
Yes if you just graduated and are working in your field of study you only need 1 full paycheck + your diploma and you should be OK.
0 votes
Marianne Dun…, , San Diego County, CA
Thu Jan 5, 2012
Hello Huy,
Yes, You can use that diploma and your current work place as long as it is in the same line of work.
If you want more details contact me as I have been in the industry for over 20 years. I want to help you
and want you to get the very best in rates and best programs avaliable to you.... I will help you find the
property and negotiate the best price on your home if you need help, I am here.
0 votes
Marty S, , Irvine, CA
Wed Mar 11, 2009
It's true that they will waive the job time requirement if you were in college. Sit down with a trusted mortgage broker to discuss your options.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
877-238-6324 FAX
0 votes
Dp2, , Virginia
Wed Mar 11, 2009
Besides shopping around for conventional lenders and mortgage brokers, you could also purchase a home NOW using creative financing. I recommend that you also shop around for a good realtor, who has experience negotiating deals using creative financing, concurrently.
0 votes
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