At MortgageDepot, we understand that all qualified borrowers might not have the two-year work history that many lenders like to see. Life happens, even to the most hardworking among us. Sometimes it’s necessary to take an extended absence from your long-time job. Some qualified borrowers are new to their careers but anxious to embark on their real estate journey. Should these people be penalized when they’re seeking a mortgage?
We work with lenders that consider the reasons why a borrower might have less than two years of recent steady employment under their belt. In certain situations, you can secure a mortgage without a two-year work history requirement.
Exceptions to the Rule: Working Around Work History
If you think that your work history might be a barrier to getting the mortgage you need, think again. There are exceptions to the two-year work history guideline, and understanding these exceptions is the key to reaching your real estate goals. Here’s what you need to know:
- If you have recently returned to work after an extended period, you can show proof of stable employment history before the absence to qualify for a mortgage.
- If you have started a steady job within the past two years, you can show proof that you completed school or a training program immediately before your employment.
- If your income is based on a variable hourly wage, you must have a least a 12-month employment history.
The MortgageDepot Advantage
We understand that your financial situation and real estate goals are unique. That’s why we avoid a cookie-cutter approach to our client services. When you partner with us, here’s what you can expect:
- A creative, personalized approach to your mortgage needs.
- A combination of modern digital technology and time-tested methods to ensure a seamless transaction.
- Experienced loan officers who value their clients’ input while guiding them toward sensible mortgage solutions.
- Access to an unprecedented number of loan programs with the lowest interest rates available.
Contact MortgageDepot Today!
Don’t let a nontraditional work history stop you from reaching your goals! Contact us today to discuss a home loan program that will open real estate doors that were locked to you in the past.
Connect with one of our loan consultants to learn more.