I'm currently a student and when I graduate in December I will already have a job and getting paid at the end of December on into January. I will be getting paid 6 figures. I am NOT going to sign another lease for rent having been in a rental for the last 10 years. I just want to know how likely the bank will be to give me a mortgage loan with the limited work experience. Credit 720. Minimal DTI. House desires in 240-270k range. Income 100k
You should have absolutely no trouble getting a loan with those numbers, @Evan Phillips . Your credit and income are solid, and your price range isn't too high. You should be totally fine.
@Evan Phillips You are full time student. According to guidelines you should be okay to proceed with pre-approval when you have employment letter before the closing you should have 1 or 2 paycheck depend on overlsays of your lende.
You can use your student transcripts as a substitution for your typical required 2 years of employment, as long as your job in is the same field as your studies. All you'll need is the job offer letter. As long as the lender has no reason to believe that your employment will discontinue within the near future, you're golden!!!