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i lost my job last year but ready for a mortgage

i was apart of a mass layoff, unfortunately, which i can easily show to lenders if necessary, so it had nothing to do with my work performance. now ive been working again for 7 months and confident i'm with my new company to stay. has it been enough time for me to qualify for a mortgage? ive looked mostly into fha because i have 4% down which is i gues in between? by corrine_k7823228 from Emington, Illinois. Dec 5th 2014 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,795 contributions

Typically, if you have a job gap greater than 90 days, the lender will require a letter of explanation, but it wont necessarily disqualify you for a mortgage.. so long as you have been able to show that you were consistent in paying your bills on time even though you were unemployed for a while, you should be ok.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 5th 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

You shouldn't have a problem if the rest of your application is reasonably strong. 4% to work with does likely put you in a FHA loan.

Dec 5th 2014
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Barclay Butler (Barclay)
#1 ranked lender in Illinois - 65 contributions

As long as you have been on the job for 6 months you are goood to go with FHA. You only need 3.5% down. Rates are around 3.5%. Please call if you wouold like to submit an application or go to my website www. barclaybutlerfinancial.com. Barclay Butler 224-420-9990.

Dec 5th 2014
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