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Less than 6 month employment

I have above 620 credit score and I'm continuing on improving it each month. I can put down at least 20% on a home that is $235,000. Currently I have 2 months of employment and would like to move into a home by March of 2017. I worked as a personal assistant before current job and was paid cash only. Is there a lender that can assist me? Thanks by monday8812245 from Richardson, Texas. Oct 11th 2016 Reply


Ivan Diaz (IvanDiaz)
#137 ranked lender in Texas - 20 contributions

Hello...A couple questions: 1) You were paid in cash. I assume you didn't file taxes. Correct? 2) How are you paid now - Hourly, Salary, 1099? Since you are not ready to buy now, you still have time to position yourself to buy. A mortgage lender will calculate your current income and 1 to 2 yr history accordingly. This will have an impact on your purchasing power. I recommend contacting a local mortgage lender like me to assist you in the planning stages. My contact info is on my profile and am based out of Grapevine.Let me know what you think.

Oct 11th 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,488 contributions

Much more info needed.. First, it doesn't really matter how you were paid.. the question is, did you claim the income on your tax returns? Also, are you in the same "Line" of work.. Typically, if you are in the same line of work for more than 2 years, and you are going from a Self employed position to working for someone else.. then the income from your new job should be considered.. but how you get paid now also is important.. are you hourly, salary? then its possible the income can be considered.. but if you are paid 1099, then technically, you are still self employed, and will need 2 years tax returns of S/E income to qualify.. but in all reality, you need to get with a lender and let them look at your complete loan profile to know for sure.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. 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 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 NMLS# 226347

Oct 13th 2016
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