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Can you get a good mortgage rate with a FICO score of 733 but Only 1 Year Income in the last 2 years?

I have a great score but I was out of work for a year due to layoffs. I have been working again for a year and have nothing negative left on my credit after my year long loss of employment. I keep seeing that I need a 2 year work history. Will anyone be willing to work with me? by samson_572_426 from Biloxi, Missouri. Jun 11th 2012 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

You shouldn't have a problem.. With a good letter of explanation, you should be fine.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. 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

Jun 11th 2012
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Cody Bellah (cody@communitymortgagekc.com)
#17 ranked lender in Missouri - 76 contributions

I can, call me 816-256-0013 Cody Bellah

Jun 11th 2012
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Dennis Sauerwein (stlmortgagerates)
#11 ranked lender in Missouri - 20 contributions

We can help you. I justed closed a loan with a lady that was off work for 2 year and was only employed 6 months. My contact info is Dennis Sauerwein 314-703-7200.

Jun 11th 2012
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Raymond Denton (Raymond)
#11 ranked lender in Ohio - 224 contributions

Yes, as long as you're in the same line of work, and your employer provides a letter saying they love your work ethic and have every intention of retaining your services for many years to come.

Jun 11th 2012
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Linda Wintersteen (Linda123)
#62 ranked lender in Arizona - 1,256 contributions

yes, i would need your layoff letter, did you collect unemployment ? are you in the same line of work?? email me at yourloanpartnerforlife@live.com or phone at 602-330-1598 linda

Jun 11th 2012
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NA NA (NAAAAAA)
#19 ranked lender in Missouri - 18 contributions

You can get a loan as long as you are now considered permanently employed and your employer does not anticipate future layoffs.You can contact us anytime at 573-355-1743

Jun 11th 2012
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MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions

Hi there: If the overall loan picture is strong, a letter of explanation would be requested. As long as your file combines compensating factors etc (overall picture), lenders will consider your loan before selling it on the secondary market. Underwriter on your File would need to fully rep and warrant is my experience. Mike NMLS #754875 (lending nationwide)..EFCU..703 505 5300

Jun 12th 2012
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