(Closed) How easy will it be to get a house

posted 8 years ago in 20 Something
Post # 3
10355 posts
Sugar Beekeeper
  • Wedding: September 2010

You need 3 years of employment history in the same field to qualify in most cases. Some banks are more flexible if you have a large down payment or a large paycheck relative to the mortgage payment.

If you don’t put your info on the mortgage you guys may have a better shot, but then only his income/credit score/etc will count.

Only putting 10% down is definitely not ideal – and he likely won’t qualify for FHA since he has owned (can’t remember how many years in between houses it has to be to requalify). Make sure you have 6 months worth of reserve money available (6x monthly payment + taxas and insurance) and enough for closing and a few thousand over “just in case”.

Post # 4
3569 posts
Sugar bee
  • Wedding: September 2011

I think it’s pretty hard.  Especially without ever having had a car loan or other credit, coupled with a short employment history. Renting an apartment wouldn’t matter because that does not show up on your credit report. 

Post # 5
4494 posts
Honey bee
  • Wedding: October 2013

We bought our first home last year. I assume your Fiance works? We only had to have our W2s from the past two years and it didn’t matter if it was from the same employer or if we had switched jobs within that period of time. If your Fiance has a job and has been working for a couple of years then you shouldn’t have a problem.

ETA: I only had one W2 to submit because prior to that I was in college. It didn’t make a difference. They just had to make a note in the file to explain why the typical requirement couldn’t be met.

Post # 6
8572 posts
Bumble Beekeeper
  • Wedding: October 2014

Do you have any credit? Credit & long term employment are really the only things you need. But without either, you’re pretty much screwed.


If you have dont any credit or you have bad credit, you’re going to need a pretty hefty payment for a bank to eve consider your application.


Post # 8
2490 posts
Buzzing bee
  • Wedding: July 2018

Your credit score and his employment history will definitely be in your favour. You also might have more luck if he can afford it by himself, this way your employment will be less of a factor.




Post # 9
523 posts
Busy bee
  • Wedding: March 2013 - Callanwolde Fine Arts Center

My DH and I bought our house before we were married. I had been working at my job for just over a year and DH had been at his job for about 6 months. We put down 20% on our house. We didn’t have any problems getting approved for a mortgage.

ETA: I was 23 at the time and DH was 25.


Post # 10
3274 posts
Sugar bee
  • Wedding: June 2014

You will need to have the same job for 2 years to have any of your income considered. You can co sign but your income won’t matter. They will base the loan off of his income and you will most likely need to put 20% down, so 60k. We’ve been in the process of all the loan paperwork the past few weeks. 

Post # 12
3274 posts
Sugar bee
  • Wedding: June 2014

We are using a conventional loan, FH just graduated and is working in the field he studied but it doesn’t count at all. He makes double what he makes at the other job he has had for years but they won’t even consider the job he has in the field even though he’s worked their for one year. So it seems that it needs to be an actual full time (veryy important) job regardless of the field for at least two years. 

Post # 14
3274 posts
Sugar bee
  • Wedding: June 2014

FHA loans are different from conventional loans so they will have different qualifications. Hopefully that type will work out better for you!

Post # 15
83 posts
Worker bee

Sounds like he will have to be the only one on the loan since you have a few things missing plus he’s already owned and (hopefully) has good credit.. Loans are extremelly annoying and time consuming trust me I’ve tried going through a few places before settling on a conventional loan, with large dwn. You may have to try a few different mortgage agencies but honestly it sounds like it will be easy for him to qualify he sounds like he fits the criteria. 

Post # 16
1900 posts
Buzzing bee
  • Wedding: July 2012

It won’t hurt to go chat with a few banks just to see what they say. Ideally, I think they like to see that you’re earning money, but a big thing that helped us get the loan was that the bank looked at what my savings were when I finished university three years ago (about zero), then what the savings where now (about $20K). To see that we clearly understood how to budget and save really helped.

Also, I would recommend having more than 10% deposit – there are lots of other little expenses that crop up when buying a house – mortgage insurance, home and contents insurance, solicitor/conveyencing fees, stamp duty, moving costs, etc. We added it up and our costs of buying a new home (not including the house itself!) will be close to about $20,000. Sure, we get a rebate on the stamp duty, and there’s the first home owner’s grant, but it’s still an expensive process. On top of that, you will also want to have a least one mortgage payment left over at the end of buying your house – the more money you’ve got left over at the end of it, the more you can instantly pay off of your mortgage/the more emergency funds you have to call on if you need it.

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