Comments on: I just graduated from college and want to buy a home…now what?

By: Gary Miljour

Gary Miljour — Thu, 13 Oct 2011 19:09:09 +0000

Dear Jay,

Great Question. The answer is yes, VA loans treat those college years as time on a job.

Let me know if I can be of any further help.

By: Jay

Jay — Thu, 13 Oct 2011 17:16:56 +0000

What about with VA loans? Are those years of college computed the same way in order to meet the 2-year requirement?

By: Gary Miljour

Gary Miljour — Mon, 16 May 2011 17:00:06 +0000

Dear Holly,

Thanks for the comment and let me answer your question. If you use an FHA loan, you can use your school as professional experience as time on the job. You will probably have to provide at least 2 paystubs. So yes this is very possible. If I can be of any help, please feel free to contact me.

By: Holly

Holly — Sun, 15 May 2011 17:43:25 +0000

I will be graduating from a professional program in 2012 and at that time my husband and I will be moving to a different city and will be wanting to buy a house. He will have over 2 years with the company he is at making a good amount of money. We will be wanting to buy a house in March or April and I graduate in May. I will not be officially licensed until I graduate in May so I will likely have a job offer at the time we want to purchase a home, but will likely not have any paystubs. We are firstime homebuyers. If we are not able to purchase a home and move from our apartment in our current city into a house in the new city (my hometown), then we will have to live with my parents which is less than desirable. Is any of this possible?

By: Gary

Gary — Mon, 24 May 2010 19:04:15 +0000

Jeri,
Thanks for the comment,

Your question is a good one and let me answer this for you. With being a full time student you can use your diploma as time on the job, so having your 2 years of experience will be fine as long as you provide the lender proof of school transcripts. However you do have to first start your job. Usually an offer letter and 2 weeks of pay stubs prior to closing is sufficient for loan approval for you. As for your fiance, he would be treated as self employed and he would have to have the 2 years of tax returns before being able to use his income. My advice would be to proceed in the loan in your name only since your are not married yet.

By: Jeri

Jeri — Fri, 21 May 2010 18:40:20 +0000

I just graduated from nursing school and got a job. I don’t start working until I pass my boards (should be June). My fiance and I are trying to buy a home. He has had a problem with getting a loan because he is self-employed (hair stylist) and does not have 2 years of tax documents. So with me being a graduate now, will we have a better chance of getting a mortgage, or will we have to wait until I start working? Thank you!