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/u/Unfair_Assignment268
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Hello. My husband and I are looking to buy our first house this fall when our current apartment lease is up. We have around $450k currently in investments. I quit my job over a year ago to pursue art full time but don’t make much at all yet so we rely on my husbands income.
My husband went through a bad streak of luck with jobs over the past 3 years where he was laid off 4 times in a row with months of unemployment in between - he just got a decent job again after being unemployed for 4 months.
I know most lenders require 1-2 years solid work history. I am wondering how much they take investment portfolios into consideration when applying? Our credit is also meh with both of us sitting at high mid 600s currently.
We desperately want out of the rental game and into a house of our own and dread the thought of having to extend our lease for another year to get his work history solid
We also have enough liquid in our savings account for a 20% DP on houses in our price range plus.
submitted by /u/Unfair_Assignment268
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Do banks take investment portfolios into account when approving mortgage?
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My husband went through a bad streak of luck with jobs over the past 3 years where he was laid off 4 times in a row with months of unemployment in between - he just got a decent job again after being unemployed for 4 months.
I know most lenders require 1-2 years solid work history. I am wondering how much they take investment portfolios into consideration when applying? Our credit is also meh with both of us sitting at high mid 600s currently.
We desperately want out of the rental game and into a house of our own and dread the thought of having to extend our lease for another year to get his work history solid
We also have enough liquid in our savings account for a 20% DP on houses in our price range plus.
submitted by /u/Unfair_Assignment268
[link] [comments]
Do banks take investment portfolios into account when approving mortgage?
Continue reading...