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How can I get a home loan if I just graduated?

Posted by on Jan. 17, 2013 at 8:20 PM
  • 4 Replies

I just graduated with my bachelors in May and got my first "real" full time job in August. So I've been there for about 5 1/2 months. I am living with my parents right now but I want to move out and buy my own home but I don't know how to get a loan? Can I still get a loan if I just started my career? I just really don't want to rent.... Any advice?? I have pretty good credit, it's a little over 750...

by on Jan. 17, 2013 at 8:20 PM
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Replies (1-4):
tyfry7496
by on Jan. 17, 2013 at 8:55 PM
I'd wait another 6-12 months. Did you have steady employment before graduating? You can call the bank or mortgage company and ask about employment requirements.
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amonkeymom
by Gold Member on Jan. 18, 2013 at 1:44 PM

Congratulations!

A lot depends on your credit, your debt to income ratio, etc.  It's also better to have had a steady income from the same employer for a year or more.

You can also talk to a realtor and ask for recommendations to reputable mortgage brokers.

mytrueloveS
by on Jan. 18, 2013 at 1:50 PM

I was told to wait a year before applying for a loan.  Call a realtor, they'll be able to give you the information you need.  

haydsmom2007
by on Jan. 19, 2013 at 11:17 AM

a year?? Bummer...

I am going to go to my bank today and see what they say...

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