Sunday, March 26, 2017

What steps will I need to take in order to be approved for a home mortgage?

I've been in school since Sept 2015, working 3 part time jobs at the same time. I recently dropped out due to finding a part time career in my field of study and pursuing it. I worked there for about a month and then quit due to being offered a full time position of the same job in a different county, closer to home, where I start next Monday, making $17.50/hour 40 hours a week minumum. I have an auto loan, credit card, and student loan that add up to about $7,500 total. I pay my payments which add up to $400 each month to pay my debt off. I am looking to get a loan for a house from $50k-$75k maximum. I understand that I have no chance of getting a home mortgage at this time since I have so much debt and am just starting this full time job, but what steps do I need to take to get the loan? I also have been working since I was 14, never been without a job, and I also kept one of my 3 part time jobs and will be working there even after I start my new full time job.

Read more: What steps will I need to take in order to be approved for a home mortgage?