Financing in West Milton>Question Details

Micah Vietz, Home Buyer in West, TX

new grad RN, 1st job, could I be approved for a mortgage. (fiance has steady work history and will be applying together)

Asked by Micah Vietz, West, TX Sun Feb 24, 2013

I am a new grad RN, landed my first job finally. (dayton, oh area) together our gross income is around 65 thousand. his credit score is 770, mine is 730 or higher. would it even be possible to be approved? I dont want to continue renting when we can buy a house. any programs or particular mortgage companies? thanks for any input!

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Larry Jordan’s answer
Micah: Congratulations on your accomplishments, becoming a RN is a great career field and moving to the Dayton area is another great decision. Based on your credit scores, you've and you RN designation, I would say that you will certainly qualify for various loan programs. Your best approach at this time is to search for lenders around Dayton and give them the information they need to pre qualify you for a loan. They will help you to establish a ceiling on the price of homes you should be looking for.

If you need help in finding the right lender feel free to contact me and I will do my best to direct you to the lender that offers you the best rate and lowest "out-of-pocket" expenses you might incur. I may be contacted at (937) 371-8100.
0 votes Thank Flag Link Tue Feb 26, 2013
My short answer is that yes you and your fiance should be ok. However I am a Realtor and NOT a mortgage lender and honestly ONLY a mortgage lender would be able to answer your questions fully. My company, Irongate Inc. Realtors, is the largest locally owned real estate company in the Dayton area and we are also partnered with the largest locally owned credit union in the area, Wright Patt Credit Union. My suggestion would be to call Annette Kindel, she is a GREAT mortgage originator that works out of my office, and she can go over your information over the phone and possibly even get you a pre-approval prior to your move. If you are interested please call Annette at (937) 432-0806. Additionally, if you have any other questions please feel free to give me a call as well.
Thanks, and hope your move goes great.
Danato Andriacco
Irongate Inc. Realtors
(937) 286-8761
0 votes Thank Flag Link Mon Feb 25, 2013
If you are moving to this area soon, feel free to contact me. I can assist you with your mortgage choices and home search. I have been a full time Realtor for 30 years and work in the MIami County area.
0 votes Thank Flag Link Mon Feb 25, 2013
I agree with Shane's comment. The lender will likely ask for a copy of your transcripts and license along with the other documents they would normally request.
0 votes Thank Flag Link Sun Feb 24, 2013
Yes, since you recently graduated and have obtained a job as an RN, you can use your job & it's income to qualify. There is a guideline that requires 2-years of employment, but recently graduating school (other than high school) is one of the exceptions that can substitute for that requirement. Loan programs would be any that you qualify for - and with excellent credit scores you probably will want to utilize standard conforming loan programs (Fannie Mae/Freddie Mac), which nearly all mortgage lenders offer.

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct
0 votes Thank Flag Link Sun Feb 24, 2013
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