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re: first time home buyer?
Posted on 5/24/15 at 10:09 am to Westlakeguy10
Posted on 5/24/15 at 10:09 am to Westlakeguy10
Extremely important. You need a two year history or you can be on your first job out of college in your field.
Posted on 5/24/15 at 10:16 am to ds1tiger
You dont NEED a 2 year work history.
Salaried position with 30 days(2 paystubs) you are good.
If right out school, OK with above.
If previous work history(even if recently unemployed) 30 days new salary OK.
However, if tip/bonus/commission/OT heavily paid, then yes to qualify with more than just base salary, you will likely need 2 year history of filed tax returns. Similar rules apply to self employed, 1 year minimum tax return, usually 2.
Salaried position with 30 days(2 paystubs) you are good.
If right out school, OK with above.
If previous work history(even if recently unemployed) 30 days new salary OK.
However, if tip/bonus/commission/OT heavily paid, then yes to qualify with more than just base salary, you will likely need 2 year history of filed tax returns. Similar rules apply to self employed, 1 year minimum tax return, usually 2.
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