Posted on: 03rd Sep, 2010 01:28 pm
I have been employed for over a year but not with same company. I was a stay at home mom before and have been out of work by choice for 9 years. Trying to get approved for a $80,000.00 loan to purchase interest in a Condo I currently live in. My income and down payment are not a problem as well as my credit is good have been rejected by two lenders any suggestions?
Hi green!
Welcome to forums!
As you don't have a work history of 2 years, it would be difficult for you to qualify for a loan. Thus, though you've a good credit and income, yet the lenders have rejected your loan application. If you're a member of a credit union, then you can contact them and check out if they can consider your work history and help you with a mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you don't have a work history of 2 years, it would be difficult for you to qualify for a loan. Thus, though you've a good credit and income, yet the lenders have rejected your loan application. If you're a member of a credit union, then you can contact them and check out if they can consider your work history and help you with a mortgage.
Feel free to ask if you've further queries.
Sussane