Can I get a home loan without a 2 year work history and a bachelors degree?

Posted on Jan 23, 2013 in Stated Income Loans

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Question by uatafoya: Does anyone know any wholesale lenders that do 100%?
I am looking for wholesale lenders that do 100% financing SIVA/SISA and Full Doc in California.

Best answer:

Answer by network marketing helper
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Question by Saul S: Can I get a home loan without a 2 year work history and a bachelors degree?
I graduated in May 2011 with a bachelors degree in Criminology. It was hard to get a job, for sale but in July 2012 I stated working in county jail. I been working there for the last 5 months, order my gross income is approximately close to $ 13,000. My credit score is around 720. I have 2 credit cards with a total balance for both of $ 1,500. I never been late with my payments. I have around $ 8,000 in my savings account.
I applied directly with Wells Fargo. Since I didn’t automatically qualified for the loan due to work history, they had to send some paperwork to the underwriter. I have to wait 4-6 days for notification.

What are my chances of getting a home loan?

Thank you

Best answer:

Answer by Ariaread
NO. You must have full time employment for 2 yrs. The lender requires you to provide your tax returns. The regulations will NOT be waived just because you have a degree

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2 Comments

  1. Just go apply for one and see what happens.

    If you have a credit history of any kind and an income I suspect you can probably get something. If not maybe you can twist your mom’s arm into co signing or something. Just don’t screw your mom.

  2. Not likely.

    You need 2 years stable work history.
    An income of $ 13,000 isn’t even full-time. That would let you borrow about $ 33,000.