Updated over 5 years ago on . Most recent reply
Lenders/Financing for the Seasonal Worker
Hey Team!
So my partner and I are looking to buy our very first house hack (hopefully) within the next year. We've been saving up a downpayment, working on credit scores and DTI, etc., but we have a somewhat different employment history than most: We both work seasonal tourism jobs.
We spend summers working as Expedition Guides (on boats) in Alaska, which pays fairly well but only lasts for 4-5 months of the year. For winters, we work in Telluride, CO for the ski resort, at the local ski shop, and at restaurants. The income is lower over the winter, but still plenty to save some money. This also lasts about 5 months, and we have what we call "should seasons" of forced-vacation between the two places.
My first question is this: How will lenders view this somewhat unconventional form of work history? Will it make things more difficult for us to secure a loan? (We are looking at an FHA or Home Possible loan) Will it make us ineligible in any way to secure the type of loan we want?
But my REAL QUESTION is this: Does anyone here on BP have experience with something similar, and/or lenders they can recommend for our situation? Are there companies/institutions out there that we should be looking into before we start down the more "classic" route of going to a bank?
We would ideally like to start the process of getting pre-approved this coming spring, so it is something that is very much on my mind! Please let me know if anyone on here can help, offer advice, or make a referral!
Thank you all so much!
-Nathan (and Sarah)
Most Popular Reply
@Nathan Hagge As long as you can show two years history in the same line of work, you should be fine. At FirstBank we work with borrowers all the time in similar employment situations in our mountain towns, specifically Vail. If you have any questions feel free to send me a direct message.