Open Question: Do you have to be employed for a specific amount of time in order to be pre-approved for a home loan?

I've had 2 homes, and sold them both. No payments were ever late, as was the case with all my payments on everything else...car, student loan, credit cards, etc. for as long as I had the debt...credit cards over 10 years, at least 2 cars over 10 years, student loan over 10 years...nothing ever late up until the end of 2007.

Selling my last home was difficult, and I did run into some problems financially. My roommate/sister moved out, so I had a difficult time towards the end of the year, and 2 credit cards were late. I also had a couple of hopital bills that were late, and have been paid off now after finally selling my house. Everything's up to date now, and over the 7 months it takes them to build me a home, everything will be paid off. My only debt will be my student loans-god willing...I have no mortgage payment, since I'm temporarily staying with family.

Why would the mortgage company tell me that they won't be able to do anything for me until the end of 2008? my credit score is not great, because of my late payments, but it's decent. I still have a 650, and when I pay off everything, it will be better.

I guess they have no faith in anyone anymore. I appreciate your answer, but I can't get the builder's incentives unless I use their mortgage company.

Sorry...guess I'm just venting.

Resolved Question: Should I or shouldn't I have my husband's name on our house title?

We are planning on buying a home on my credit, (he has recent bankruptcy and unpaid fed taxes and student loans). So will I be in jeopardy of losing the house if a creditor comes after him/us for their money, and possibly take our home??

Open Question: Do you have to be employed for a specific amount of time in order to be pre-approved for a home loan?

I just graduated with my bachelors and I have a job secured. There is a house on the market that I want and I know I can afford with my salary. How long do I have to wait before applying for a mortgage?

Technorati Tags: home loan, Open, Question, you, have, employed, for, specific, amount, time, order, pre, approved, for, home, loan