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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Do you think we'll have trouble....
getting a mortgage with me not working and my dh just switching to a new job 3-4 months ago? We are going to call Chase (which is who we have our mortgage now with our co-op) and find out what the deal is.
When we were looking 6 months ago we got pre-approved for a mortgage for about 500,000 ( and I still wasn't working).
My father is driving me crazy telling me so many things and filling my head. This process is stressful enough and I can't take anymore!!
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Posted 10/12/06 10:38 PM  |
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snowprincess
My happy babies
Member since 3/06 3428 total posts
Name:
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Re: Do you think we'll have trouble....
I don't think you will have too much trouble - the loan may be a quater point higher
but we got qualified after both of us only working 3 months in our jobs
just make sure you keep all the paycheck stubs and have them from the last job too
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| Posted 10/13/06 8:06 AM |
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antoinette
boy mamma
Member since 5/05 2975 total posts
Name:
Antoinette
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Re: Do you think we'll have trouble....
you can get a stated loan- no income check- for a slightly higher rate- most banks look more to credit score than the job.
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| Posted 10/13/06 8:18 AM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: Do you think we'll have trouble....
Posted by antoinette
you can get a stated loan- no income check- for a slightly higher rate- most banks look more to credit score than the job.
this is what we did and we were in a very similar situation as you. Rates were a lot lower than now, but ours was still pretty good. Maybe 1/8% more than if we didn't do stated income
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| Posted 10/13/06 8:22 AM |
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Re: Do you think we'll have trouble....
I don't think you will have to do a stated income loan. You should be fine
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| Posted 10/13/06 8:57 AM |
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dee7772
My Loves
Member since 5/05 4852 total posts
Name:
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Re: Do you think we'll have trouble....
Is your husband still in the same field with his new job?
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| Posted 10/13/06 9:30 AM |
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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Re: Do you think we'll have trouble....
Yes...still in sales.
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| Posted 10/13/06 11:26 AM |
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dee7772
My Loves
Member since 5/05 4852 total posts
Name:
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Re: Do you think we'll have trouble....
Then the change of jobs shoulds not matter. I believe the only time a job change can affect the mortgage company is if they change job fields. I think it is more of a risk in their eyes.
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| Posted 10/13/06 11:56 AM |
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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Re: Do you think we'll have trouble....
Thanks so much everyone!!
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| Posted 10/13/06 12:02 PM |
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NJmom
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Member since 8/05 4987 total posts
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Re: Do you think we'll have trouble....
Posted by dee7772
Then the change of jobs shoulds not matter. I believe the only time a job change can affect the mortgage company is if they change job fields. I think it is more of a risk in their eyes.
I agree. We bought our house right after my DH changed jobs and I was unemployed at the time. My DH was still in the same field so it was no problem. A job change won't affect anything as long as it is in the same field.
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| Posted 10/13/06 12:29 PM |
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