Posted on: 06th Apr, 2010 02:23 pm
Hello,
I am a first time home-buyer and I am a seasonal worker, meaning I work all year long until winter and then I get state unemployment benefits during the winter. I talked to a lender about an FHA loan and they informed me I would have to have a co-signer becuase I have not worked for my employer for 2 years so they could not count my income becuase I draw unemployment during the winter. I can not find anyone to cosign a mortgage. So, I talked to someone local about a USDA Rural Housing Direct Mortgage and that guy informed me that they don't requirements pertaining to seasonal workers. I went ahead and filled out an application with him, but I am not sure about the information I recieved whether or not it is accurate? Does anyone know if the USDA will indeed loan money with me being a seasonal worker or if there are any other mortgages out there that will work for me with me being a seasonal worker?
PLEASE HELP! I am currently under contract on a house and I can't seem to find any solid information about this.
Thanks.
I am a first time home-buyer and I am a seasonal worker, meaning I work all year long until winter and then I get state unemployment benefits during the winter. I talked to a lender about an FHA loan and they informed me I would have to have a co-signer becuase I have not worked for my employer for 2 years so they could not count my income becuase I draw unemployment during the winter. I can not find anyone to cosign a mortgage. So, I talked to someone local about a USDA Rural Housing Direct Mortgage and that guy informed me that they don't requirements pertaining to seasonal workers. I went ahead and filled out an application with him, but I am not sure about the information I recieved whether or not it is accurate? Does anyone know if the USDA will indeed loan money with me being a seasonal worker or if there are any other mortgages out there that will work for me with me being a seasonal worker?
PLEASE HELP! I am currently under contract on a house and I can't seem to find any solid information about this.
Thanks.
Bronc, you ought to be able to find more detailed information directly from the USDA - look on the HUD website, for example. Or, for that matter, simply do an internet search on USDA and you'll find more specific information there as well.
Now, of course, it's been a month and a half since you posted, so you may have already received your answer and you may actually have your home now. Undoubtedly the FHA response was correct, but I'd hope that you got straightened away in the intervening period.
Drop a line and let us know - it might just help someone else.
Now, of course, it's been a month and a half since you posted, so you may have already received your answer and you may actually have your home now. Undoubtedly the FHA response was correct, but I'd hope that you got straightened away in the intervening period.
Drop a line and let us know - it might just help someone else.