I already graduated and started a job in my major the week after, so most lenders should be able to count college as part of my work history/stability. I already have enough money saved up for the down payment and enough to furnish a home. I should be eligible with my credit score. In the area I live in, the rent is more than double than what I can get in a mortgage (even including insurance, taxes, principal interest, water &sewage). I have lived in this city my whole life and I am happy here. I have no debts or student loans from college. I have only been working for several months. Even though my job is stable, I don't know if lenders really do count schooling into work history. Is buying a house a smart move in my situation? I need advice! Maybe it's not all about numbers. Is there other reasons I should wait? I should also add that this would be a "starter home" and I don't plan on looking for a permanent home for 10+ years. I feel like Im missing details, but lets start here.
Added (1). I have been looking at rent prices in my area and compared them to mortgage rates for years, and yes the difference is significant.
I have had other jobs previously, I'm just not sure if lenders merge the histories at all.
Anyways I'm not worried if I'm approved for a loan or not. I am looking for advice if making this big decision is advisable in my situation.
Read more: Should I rent or buy a home after college?
