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Can I get a loan with one year of work experience?

I was a stay at home mom for a few years and entered the workforce about a year ago. I make good money, have good credit and have a substantial down payment. by sarah.b561 from Burlington, North Carolina. Nov 15th 2017 Reply


Yes, not everyone will accept less than a 2 year work history, but, we can often help in this situation. For some reason I am not logged in trying to respond on my phones browser. My email is rhanson@1stored dot com

Nov 15th 2017
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And now she's ell check messed up my email. Just reply to message for more info!

Nov 15th 2017
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

I am now on a computer and properly logged in. In many cases we can deal with this situation and still approve you for a mortgage. It depends on the details, but, more often than not we can make it work. I do know that many other lenders will not, but, I am sure there are others besides us that can do it as well!

Nov 16th 2017
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Joe Metzler (JoeMetzler)
#19 ranked lender in Minnesota - 3,754 contributions

Not enough information. On all traditional low rate loans, you need to document at least a full two-year work history in your life. Then, if you've been out of work for at least 6 months, you must be back at work for at least 6 months. If the old work history is really old and hard to prove, you'll probably have to wait until you've been at this job two years Non-conforming, high rate loans may be different. For situations like this in MN, WI, and SD, visit me at www.StPaul-Mortgage.com

Nov 16th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,428 contributions

More info needed, but there are situations where only having one year back to work will be acceptable.. I suggest you contact a mortgage banker/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 a Banker/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 banker/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 big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 17th 2017
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Dale Corley (TheLoanAngel)
#111 ranked lender in Georgia - 6 contributions

Sarah, I'd need to gather some more info, but it sounds like you would qualify for a mortgage under our six month exception for work history in North Carolina with a letter of explanation. There are different guidelines for self-employed borrowers, but I'm assuming you receive a W-2. Feel free to connect with me at DaleCorley.com For similar scenarios in CA, TX, GA, NC, and FL, I'd be happy to discuss your situation. Visit me at www.DaleCorley.com Good Luck!

Nov 17th 2017
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