Can I get a mortgage
December 13, 2011 7:45 PM Subscribe
Buying a house for the first time, have a question about obtaining a mortgage when I believe my current job will be ending soon. Also looking for general house-buying advice.
posted by anonymous to work & money (7 answers total) 1 user marked this as a favorite
I'm thinking of buying a house in Central New York. I have no idea what kind of financial scrutiny lenders will demand when I apply for a mortgage. The contract on my current job (an academic position) ends in six months or so, and I am thinking of taking some time off.* My question is, is a prospective lender going to want some kind of assurance of ongoing employment past the end of my current job?
In case it's relevant, my credit rating is excellent. (At least it was when I bought a car six years ago. I haven't checked it since.)
Any general advice about house buying is welcome too, though I imagine there is already tonnes on the green.
*This is not financially insane, because I have enough money overseas that I could buy a house outright if I wanted to, though I would prefer to take out a mortgage for a number of reasons, mostly related to my fear about the direction the US economy is headed.