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Old 11-04-2012, 12:01 PM
 
1,293 posts, read 1,517,379 times
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I'm going to make a long story short


I'm 23, I make great money and have great credit. The issue is I have only about 6 months of work history in a job that's almost all commission (I sell cars and my job is 90% commission). I have about 3 years of credit history.


How long will it take before I can get a mortgage loan? I can't get my parents to co sign for me cause their credit sucks. Would a bank give me a loan with let's say a year and a half of work history, 10-20% down payment and 750+ credit score?


Is there any way to bypass that whole 2 year of work history thing?
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Old 11-04-2012, 01:18 PM
 
Location: Danbury CT covering all of Fairfield County
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2 years of work history is common. If not at the same company, a similiar line of work or working at a different company is generally seen as OK.
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Old 11-04-2012, 01:34 PM
 
1,293 posts, read 1,517,379 times
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Quote:
Originally Posted by jdhall1 View Post
2 years of work history is common. If not at the same company, a similiar line of work or working at a different company is generally seen as OK.

I have about 6 months of work history here but I was in school before that and didn't work for the last year and a half before that



Would it possible for me to get approved for a loan in a shorter time period than 2 years of work history?
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Old 11-04-2012, 02:53 PM
 
Location: Lexington, SC
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The 90% commission could be a stumbling block as some will not count commissions as salary. I know one couple that make very good money but both were very dependent on commissions versus salary and they had major issues getting a mortgage. They finally did put a large down payment down and had to carry mortgage insurance.

I wish you the best. Go for it.
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