Will going on Unemployment affect getting a Mortage?

Question

I am out of work due to the Corona Virus,

I was planning on buying a house when my lease is up on my apartment in 5 months.

I went to school for 2 years and just moved back to LA from a long trip out of the country.

I was about to start a job in my career but then everything was put on hold.

I want to get on Unemployment until I can go back to work, but will it affect being able to get a mortgage once I’m working within my career?

Kyle J. · Answer

@Iago Noya Sorry to hear about your employment situation. Filing for unemployment doesn't hurt your credit. Not being able to pay your bills (or missing payments) definitely could though.

If I were you, I'd file for unemployment and get some money coming in until you can get back to work.

Best of luck to you.

And if you're interested in reading more on the topic, here's an article from Experian on this very subject: https://www.experian.com/blogs/ask-experian/does-filing-for-unemployment-affect-your-credit/

Iago Noya · Answer

@Kyle J.

Thank you very much Kyle!

Exactly what I needed!

Will going on Unemployment affect getting a Mortage?

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