Do mortgage lenders take local demand for your occupation into account when evaluating your attention?
My husband and I want to buy a house by June of 2009, when our current apartment lease expires. With the national economy tanking we’re worried that we may not get approved simply because my husband will only have a year of full-time salary history. My husband is a first year software engineer for a small (but well customary and carefully managed) defense contractor whose largest customer is NATO. We live in Huntsville, Alabama; a hot bed of high tech jobs primarily in the aerospace, electronics and defense industries. The city really has the 3rd highest concentration of software commerce jobs in the country, behind Boulder, Colorado and Silicon Valley. The city’s economy is relatively strong yet has a very low cost of living. My husband graduated from college in May of this year and currently makes a starting salary of 50K a year. He’s only been on the job for 3 months but has made himself virtually obligatory to his boss. The company is working on an addition to their product that only he has the skills to implement so his salary is expected to rise at least somewhat during the company’s annual evaluations this winter. We don’t want to borrow much in relation to our income. I was doing some research on the local real estate market and the type of properties we’re interested in (3 bedroom ranchers under 1500 square feet on 1/2 to 1 acre lots outside the city) have an average asking price of $ 110,000 and aren’t selling very well. Most of the houses I found in online listings were completely vacant, which means more negotiating room for me. I’m hoping to find someone ultra desperate to sell and get them down to $ 90,000 or even $ 80,000. Our credit score is around 720 and our debt primarily consists of low interest student loans and a small loan for the motorcycle my husband uses to commute to work, which we plot on paying off soon. We have a honest amount of money in savings and try to save 15 to 20% of our take home pay We’re eligible for multiple first-time buyer programs in our state but I’m getting a small nervous about qualifying for the loan. We really want to get out of apartments because every time we rent we’re cursed with a smelly and/or noisy neighbor.lol..about your “curse”. It seems you & HB are in fantastic standing to qualify for a home-loan, except the employment history…The problem I fore-see is, it takes time to get the attention for financing filled out & approved, so if you are waiting until your HB has a year into his job (about the time your lease is up?), you still have that waiting period for financing, finding the home you want, negotiating the price, closing. – It’s a process. It doesn’t hurt to call/talk to a real estate agent, tho, (without any obligation to use them) and question for their advice on your situation. – Maybe you can start the paperwork earlier and “get the ball rolling”. (But, getting everything finalized before your lease is up, sounds hard.) If anything, tho, you can probably get by with renting your apt. month-by-month until your get into a house. – No having to resign a long lease.
Times were a bit different when I did this, 1997, but I was willing to place 20% down and I was just out of school. I mean that literally, I had a job that I was about to start and an offer letter from the company but hadn’t been paid even one time. Under these conditions I was able to get a square fixed rate loan with a excellent interest rate. Bottom line, if you have excellent credit and some money to place down I reckon you’ll get a loan. Find a excellent, reputable, honest (not automatically top producing) real estate agent who can point you in the direction of a excellent load person. This may seem counter intuitive but in most places it is not legal for real estate agents to take kickbacks from mortgage brokers. So, if an agent recommends one it is usually one that really can close deals and that doesn’t screw over clients. Also, honest agents will tell you when the deal you’re getting from your mortgage broker seems terrible. I’ve had this happen several times with clients, but never with the mortgage guys I recommend. Mostly, probably, because they know that if they do that I’ll never send them business again. Excellent Luck
It is to my appreciative that they can count his school as part of his employment. When I went to get pre approved, I had a small over a year at my current job, but the broker counted my 4 years of school as part of my current employment because it was relevant to my job. So I really had 5 years at my current job according to the loan attention. I’m not sure if that is common practice, but she said it was absolutely fine. We saw Debbie at CountryWide (I live in Huntsville too, btw. I don’t know where you were plotting to go get preapproved, but if you want to try her, you can email me if you want to know her last name, I can’t remember it right now.)
how is the democrat party not marxist?
progressive or graduated income tax. got it Abolition of all rights of inheritance- got it too Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly- got it through finance reform Centralization of the means of interaction and transportation in the hands of the state-net neutrality Establishment of Industrial armies- civilian defense force Free education for all children in government schools-have you not read what the healthscare law did with student loansObama is giving tax cuts to the rich, the democrats are CONSERVATIVES, the republicans are FASCIST NEO-CONS.
How is the republican party not a theocracy?
Many people liken liberals to marxists and there is a strong argument for this. Many people point out the similarities between liberals and nazis. There are compelling points to be made for both comparisons.
Why are some in the democratic party still so mad?
* They spent trillions on the new deal and the war on poverty * They have 90-95% of the African American vote locked up every year * They have the majority of the poor dependent on government for food and housing * They dominate the music industry with liberal musicians * They are spending billions to build a smart power grid * They dominate the mainstream media * They dominate the colleges with liberal professors * They control the teachers union * They control Hollywood with liberal celebrities * They got a trillion dollar stimulus passed * They got obamacare passed * They place a moratorium on oil drilling * They are building electric cars * They are spending billions on green energy * They have a DOJ that refuses to prosecute blacks * They appointed liberal judges to the SCOTUS * They passed new despise crime laws * They passed new banking and financial reforms * They are sending tax dollars to pay for abortions in other countries * They control fannie mae and freddie mac, the largest realtor in the united states * They controlled congress from 2007 to 2010 * They are granting illegal immigrants back door amnesty * They have bought millions of acres of land to save horses * They took over student loans * They will not enforce the defense of marriage act * They have gone all over the world apologizing to muslims * The got restaurants to change their menus * They shut down the space program * They have the EPA enforcing strict set of laws to save the planet * They have gays serving openly in the military * They are guaranteed to receive support from the unions * They have passed net neutrality laws on the internet * They killed osama bin laden * They have sent guns across the border to mexico * They increased funding for the national endowment for the arts * They still control the senate * They still control the white house I don’t get it…. They are getting nearly everything they want and they still blame republicans for obstruction. They have all this money, power and control and they haven’t been able to fix anything yet… what are they still so mad about and when is it ever going to be enough? @ shane everything on this list is common knowledge and can be easily verifiedI like to call them the Democrat party. It gets liberals very upset.
Democrats weep the most..as they are just liberal babies
They forgot…They’ve are pooping where they eat a lot lately and now they don’t like the taste or smell in their mouth.
More National Defense Student Loan
Links
- When conservatives get free pell grants and free college for being in the Army?
- when does the HOPE scholarship expire?
- Do any of them make you laugh?
- I getting ready for college and need help writing a personal statement…..?
- Looking at other people’s facebook pages makes me depressed (What should I do?)?
{ 10 comments… read them below or add one }
Lenders do take the local demand into consideration when they are evaluating a loan. It is one piece of the puzzle..
We want the middle class to be treated fairly and the needy to be helped, a little more flexibility at the borders won’t hurt either.
We the People….Power to the People.
It is a marxist organization.
Fully supported by the CPUSA.
who says they’re angry?
Half of those things you wrote were lies or gross exagerrations.
FACT CHECK: “They have the EPA enforcing strict regulations to save the planet.”
FALSE: Obama just ordered the EPA to dispense with some of their most stringent regulations on corporate pollutants. The EPA has been scaled back under this administration, not amped up.
LOOK HERE:
http://www.huffingtonpost.com/2011/09/02/obama-halts-epa-regulation-smog-standards_n_946557.html
Get your facts straight.
Simple——–all of this is destroying America and they have to blame someone. All of this has a negative efffect on American lives. Problem is, Americans ARE PAYING attention——vote conservative candidates only and get America BACK on track
Deep down they want to see blood on the streets but they cant say that so they act all passive aggressive which i guess some parts of the extreme right wing are guilty of that too , its just funny for liberals because they try to cover it up but than act so bitter.
EDIT: You want proof of what im saying just look at the liberal posters and their name calling.70% of the posts in politics is starting their question with “conservatards why are you _____?” or something.Its the name calling , leftists are completely pissed and they cant even admit that.
They want Obama to become a dictator and eliminate democracy.
If you want to play this game, we certainly can:
Why are Conservatives so upset?
*They spent trillions killing brown foreigners so that China could take the oil
*They treat minorities horribly so that Democrats get 95% of the black vote and nearly 70% of the Hispanic vote
*They are ready to send the majority of the poor to death through starvation
*I’ll give you this one, Conservatives have no music. They have country, but that isn’t music.
*They are spending trillions to build a smart power grid in other countries
*They dominate the nutjob media
*They dominate trailer parks with conservative drunks
*The corporations control the Republicans
*All right, I’ll give you this one, Hollywood goes for Liberals.
*They got a $ 3 trillion Iraq War passed, with lies no less.
*They got “let him die” shouted.
*They put a moratorium on civil rights.
*They are building gas-powered cars, in China. Oh, except for the ones they are building in Mexico.
*They are spending billions on China’s energy.
*They have a DOJ that refuses to prosecute corporate criminals.
*They appointed Conservative dictators to the Supreme Court.
*They committed new hate crimes.
*They tried to block banking and financial reforms.
*They are sending tax dollars to kill already-born children in other countries.
*They are controlled by Exxon and Goldman Sachs, the ones who screwed the economy.
*They controlled Congress from every time the economy collapses.
*They are granting illegal immigrants back door amnesty also, but rather than doing it for the human rights they are doing it for the cheap labor.
*They have leveled millions of acres to steal oil.
*They refused education to millions of students.
*They will not protect civil rights.
*They have gone all over the world embarrassing Christians.
*They got restaurants to lie about their products.
*They are complaining that a Liberal President removed something (specifically space exploration) from under the control of the government and gave it to the private sector, which they believe will make that program worse now.
*They prevent the EPA from enforcing any regulations in an attempt to destroy the planet.
*They have gays serving quietly in the military, so they can pretend they don’t exist.
*They are guaranteed to receive support from the same corporations that destroyed the American economy.
*I’ll give you this one, Liberals try to make sure everyone is heard and Republicans try to ensure that only rich white males are heard.
*They did not kill the far-right wing Osama bin Laden.
*They promised to help Mexico fight the drug cartels when the Mexican government told them were not ready to handle the cartels yet. Mexico relented and began the fight against the cartels based on that promise from Bush, and he did not follow through, now leaving the Mexican government in a fight they had warned us they could not handle. We are all screwed because the Mexicans trusted Bush, and he lied (big surprise).
*They decreased funding to anything remotely cultural or educational.
*All right, I’ll give this one. Liberals control the Senate.
*All right, I’ll give this one. Liberals control the White House.
I don’t get you, but clearly you don’t get “it.” And yes, they want to blame Republicans for obstruction, because most of what you mentioned Republicans fought and screwed America over for just to obtain personal power. That is what obstruction is, screwing America for power. And as you yourself mentioned in your list, Democrats have fixed plenty, despite Republican obstructionism.
It proves leftest ideas don’t work except to control the people. Real free people know that the right wing principles are freedom, capitalism and that gives EVERYMAN an opportunity to become prosperous and free from oppression.
So do you want to rely upon the government or yourself.
The reason they are still so angry is because their ideas don’t work and many don’t know Jesus who really brings real JOY>
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