Asan – The Easy Way to find a Job

For myself, I just graduated college and in the process of looking for a job. Once I find one I plan on trying to get a home loan. I have no employment history because I was going to college. So will they take that into consideration?

For my fiance, he worked in the hotel industry for 4 years but recently went into the health industry because they paid more. He has been working there for 4 months. Will that be a problem for us because he is in a new line of employment?

Thanks

You generally need at least 3 years track record on the job. You’ll also need 20% down, all closing costs, and 3 – 6 months of reserves, credit scores of 700 or better, 3 years tax returns, etc.

FHA supposedly only requires a minimum of 3.5% down, but we aren’t seeing anything actually get funded by closing date without at least 20% down. There seems to be an inordinate incidence of "last-minute hitches" with anything less than 20% down. But then FHA is broke.

Start saving. And don’t even think about buying property with an unrelated party. If you & fiance actually marry, and have the down payment, etc, saved up, then go ahead.