Comments on: How long until I can buy house? http://www.webuyhousesvideos.com/buy-my-house/how-long-until-i-can-buy-house We Buy Houses News and Help... Sun, 20 May 2012 05:01:30 +0000 http://wordpress.org/?v=2.5.1 By: Steve D http://www.webuyhousesvideos.com/buy-my-house/how-long-until-i-can-buy-house#comment-15688 Steve D Mon, 24 Aug 2009 11:31:52 +0000 http://www.webuyhousesvideos.com/buy-my-house/how-long-until-i-can-buy-house#comment-15688 While you may be, as Dave says, okay with some lenders regarding length of time on job, there are also other factors - how have you handled your credit in the past, have you saved up enough for a deposit (3.5% for an FHA, 10 to 20% for a conventional, non-FHA), do you have enough for closing costs (figure 3 to 5% for closing), do you have an emergency fund (6 months of income/living expenses minimum). Buying a house is a big step - you do not want to place yourself in the position of being house rich and cash poor which leads to other problems (over-extended on credit, etc.). Housing isn't going anywhere for some time - what is affordable today will be just as affordable tomorrow.<br><b>References : </b><br> While you may be, as Dave says, okay with some lenders regarding length of time on job, there are also other factors - how have you handled your credit in the past, have you saved up enough for a deposit (3.5% for an FHA, 10 to 20% for a conventional, non-FHA), do you have enough for closing costs (figure 3 to 5% for closing), do you have an emergency fund (6 months of income/living expenses minimum).

Buying a house is a big step - you do not want to place yourself in the position of being house rich and cash poor which leads to other problems (over-extended on credit, etc.). Housing isn’t going anywhere for some time - what is affordable today will be just as affordable tomorrow.
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]]> By: David Z http://www.webuyhousesvideos.com/buy-my-house/how-long-until-i-can-buy-house#comment-15687 David Z Mon, 24 Aug 2009 11:27:36 +0000 http://www.webuyhousesvideos.com/buy-my-house/how-long-until-i-can-buy-house#comment-15687 talk to a couple of lenders. some want 2 years of earnings history in same industry. this is not a hard and fast rule so talk to more than one lender to get different opinions.<br><b>References : </b><br> talk to a couple of lenders. some want 2 years of earnings history in same industry. this is not a hard and fast rule so talk to more than one lender to get different opinions.
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