Will working as a contractor until hurt me getting a rental?

Asked by dubess2525, Greensboro, NC Tue Sep 4, 2012

I was laid off from Apr-Jul 2012, but now work at a great company with an excellent salary but I'll be a contractor till Jan 2013. Looking for a 3-4 bd, 2-3 bath, 2 story house in Greensboro (my commute is one hour each way!).

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B Cox, Home Owner, Greensboro, NC
Fri Sep 7, 2012
It doesn't hurt to start out as a contractor. The bank is looking for time at a job, earning a paycheck. They don't care if it is a direct hire or contract. They might ask for a letter from your employer to verify you will be hired on. However, Its very easy for a company to drop a contractor for any reason... no hit to their unemployment insurance payments. When you get hired on you will probably get a raise (or at least you should try for one) because as a contractor they are paying a lot of overhead (25% -50% above what they pay you now). Keep that in mind when you negotiate your salary. Until you have that decided, you don't know what you can afford. I'd wait until you are hired on permanently.
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Well, as for the dropping you as a contractor, in the state of NC, any employer can drop you for any or no reason at all that's why I was asking. I looked at one house and the person renting it (a firm, not a homeowner), didn't think it would be wise to rent to someone who was a contractor. My company has over 150 contractors working here, out of a total about 700 who work in this building - it's just what they do. And I can't wait until I'm hired permanently as I'm driving an hour each way - the time and the gas $ is getting to be a bit much - I've been doing it for 3 months.
Flag Wed Sep 26, 2012
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