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Can I get a home loan with a 6 month gap in my employment?

I found a home that I want and it's a 2008 manufactured home on 5 acres of land. It's really nice but some lenders are saying the gap in my unemployment is preventing me from getting this home. Are there any other options for me? by Mrjcherry8383819 from Ormond Beach, Florida. Nov 21st 2016 Reply


Andrew Alfonso (CashCow)
#1 ranked lender in Florida - 271 contributions

Hi There how long is the gap in your employment?

Nov 21st 2016
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Josh Lund (Josh_Lund)
#47 ranked lender in Minnesota - 113 contributions

Is there someone who would be willing to Co-Sign for you?

Nov 21st 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Much more info needed, but in general, there are options if you have had a gap in employment.. lenders will need an explanation.. For example.. if you were pregnant and took 6 months off for maternity, and then returned to the same line of work, then it's not a problem.. there are other examples which wouldn't be a problem, but again, more info needed to answer your question. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm the preferred Broker here in Scottsdale AZ and Arizona and California is my primary market. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 22nd 2016
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

As others have said, it depends on the details - especially why you were not working for those 6 months. Manufactured homes can add a layer of risk to the loan making it more difficult to get the approval, compensating factors can make a difference (like amount of downpayment, or if you have a lot of reserves). You could also try a small local community bank or credit union where they sometimes have options other lenders and brokers do not.

Nov 23rd 2016
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