Posted on: 18th Apr, 2009 04:51 pm
I am a pediatric dentist with a new office (in business for 1 year now) and am looking for a loan for a home. The cost of the home is $350,000 and I have 100,000 down payment. The problem is that I don't have a two year work history other than the two years as a dental resident (making very little) at my university. Will this be a problem in getting a mortgage. My Credit rating is 770+.
Your loan to value ratio is good and so are your scores. Some lenders may give you a hard time about your work history but others may consider your residency an acceptable use of your time. If you can document sufficient income last year and show similar billings thus far this year, it may work for you.
Yes eric is correct. Your numbers look very very good. Some lenders might give you a hard time about the work history but when you say you have 100k downpayment im sure they will be willing to work something out :)
there are definitely opportunities for someone in your situation. lenders do exist who take into account your educational needs and the short-term employment that you have.
