Financing for recent college grads with limited limited work history?

4 Replies

Hi Everyone,

I'm trying to find out whether or not I would be able to qualify for an FHA loan- I'm a recent college grad with not very much income to show for 2012 and 2013. I did work during school but I have multiple w-2s from working multiple jobs. This June I started a regular full time job. I can supply my pay stubs for the last couple months however with no official w-2 or tax returns reflecting this, would I have a any chance of qualifying? My credit score is in the low 700s.

Any feedback is really appreciated! Thanks Guys!!

Hi Cecilia,

I started my first full time gig out of college back in Jan 2011. I purchased my duplex in August 2011 using FHA with no issues. Id talk to a couple local mortgage brokers. I would think you could do it.


Your options may be limited without a co-signer. A parent could be a co-applicant with you as a non-occupant co-borrower. FHA programs like these are sometimes referred to as kiddie condos.

Thanks @Eric Gutierrez  ! I have started speaking with a mortgage broker who said it is possible. Just a bit more work as I will need to provide college transcripts and write an explanation how my education was necessary from my current job. Glad to hear a success story! 

Hey Cecilia, I had no problems at all either...after 2 pay stubs, I was good to go with FHA! The one caveat was that I couldn't be in any probation period at my FT job (some jobs do that in the first 90 days for employees across the board). So depending on how your job answers that question when the mortgage company calls; otherwise, you should be fine.

They were also easily able to use 100% projected rental income in a vacant building to help me qualify for a larger mortgage.

The main thing they said would be a concern was gaps in work history after college graduation.

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