Sunday, August 2, 2015

Can you ask for a six month closing when buying a condo?


Is it unlikely that a seller will agree to a six month closing date? I qualify for an FHA loan, but the mortgage specialist at the bank advised me to wait until I have been at my job for 2 years before applying.
Added (1). I have been there a year and a half. Also, in six months I will have saved up 20% and won't need an FHA loan. I'm just afraid the condo will be sold by then. This is the only place I've found that I can afford and travel to get to work is less than 3 hours, I take the bus.
Added (2). Is there anything I can offer the seller, like $5,000 over the asking price, to make them consider a six month closing?
Added (3). Or should I just try to pre-qualify for the loan now? Before this job at a retail store, I was out of work for a year, but before that I worked in retail for over ten years. Will that count as over two years in the same industry?
Added (4). Other options I've been looking into are rent-to-own and sub-prime mortgage even though my credit score is 749.
Added (5). Does anyone have any suggestions. I really don't want to lose this place. At my price point and location restrictions, I don't think I will find another place.

Read more: Can you ask for a six month closing when buying a condo?