Posted on: 28th Sep, 2005 09:40 am
My husband was granted working permission in December and was employed in January. He earns 4,000 a month and we have 16,000 saved for down payment. I am concerened that because has only had a job for 9 months (because he did not have a green card then) there may be no way we are going to qualify for a home loan. Can you let me know if i am correct and how long we must wait to apply for a home loan. Also, are there exceptions of programs for new U.S residents to buy a home?
Hi,
What you are saying is absolutely right but in reality, getting your home mortgage approved depends on how your background matches the list of criteria set forth by the lender.
Although the rules that they have are not always entirely hard and fast, and sometimes the loan application officer does not stray too far away the guidelines he or she has been entrusted with. Important is, applicants should present themselves as creditworthy and have the adequate documented records to prove their point.
For getting a lon employment histroy is one of the most important factor which a lender generally focus at and as far as the employment goes, it has to be not less than 2 consecutive years within the same industry as most of the lenders look for stability and consistancy and your employment history gives them the idea of your capability to generate income to finance your mortgage loan.
But let me see if i can help you out or not as we have a community of lenders who specilize in various types loan programs, i will talk to some of them and if they show some interest i will forward your query to them.
God Bless you.
For MortgageFit
Samantha
What you are saying is absolutely right but in reality, getting your home mortgage approved depends on how your background matches the list of criteria set forth by the lender.
Although the rules that they have are not always entirely hard and fast, and sometimes the loan application officer does not stray too far away the guidelines he or she has been entrusted with. Important is, applicants should present themselves as creditworthy and have the adequate documented records to prove their point.
For getting a lon employment histroy is one of the most important factor which a lender generally focus at and as far as the employment goes, it has to be not less than 2 consecutive years within the same industry as most of the lenders look for stability and consistancy and your employment history gives them the idea of your capability to generate income to finance your mortgage loan.
But let me see if i can help you out or not as we have a community of lenders who specilize in various types loan programs, i will talk to some of them and if they show some interest i will forward your query to them.
God Bless you.
For MortgageFit
Samantha
