How long do I need to work back in my field after being on disability to qualify for a loan?

Hi Bedlam! I am in Massachusetts and would be happy to work with you directly! The main piece needed would be to see the hiring or contract letter from the new employer/position. Once that is in hand, more can be determined. I assume your credit is fine and the debt to income ratios that would be determined based on the usable income would be in line with those that are acceptable. Let's talk offline if you are interested in working more on this with me. Thank you!

At the very minimum you would need to be a full time employee for 1 year.. But most lenders will require 2.. Since your original position will be contract work, some lenders look at this as temporary employment, and it does not meet the minimum criteria to be considered unless you have that type of work for 2 years, verified by tax returns.. so if you go to work as a contract worker, and they hire you as a full time employee after the contract ends, you might be able to get away with one year with a good letter of explanation... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

We would need more information to give you an accurate answer. You will need to be at a permanent position to use that income for the new job, a temp position will not work. We would be happy to discuss the entire situation to help you make a plan to achieve your goals!Call us or email us at 201-962-3555 or Team@BestMortgageOption.com if you have any questions.Or would like us to give you a no cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

To be more clear on my answer, if you go back to work full time and it's not a temp position and as long as the lender accepts the explanation as to why you were on disability for the extended period of time, you will be able to use that income to qualify.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

If you are currently on permanent disability and you can prove that it could/will continue for the next 3 years, this income could be used as qualifying income to do the refinance now, rather than waiting until you obtain a full time position for X length of time. However, you must qualify the the mortgage, taxes, insurance, and all other debts in your name. It's something to think about...

If you do that you have an excellent chance in saving your home! Good luck!Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

The rules are simple... lenders are going to want to see a two-year history. They want to know your employment record, and are looking for any significant gaps in employment. If you've been out of work for more than 6 months (you have), then you need to be at the new full-time PERMANENT job at least 6 months. Those saying longer are wrong. If the new job is self-employed, commission, or tipped income. You'll need to be there two years. www.Minneapolis-Mortgage.net

At the very minimum you would need to be a full time employee for 1 year.. But most lenders will require 2.. Since your original position will be contract work, some lenders look at this as temporary employment, and it does not meet the minimum criteria to be considered unless you have that type of work for 2 years, verified by tax returns.. so if you go to work as a contract worker, and they hire you as a full time employee after the contract ends, you might be able to get away with one year with a good letter of explanation... Dont give up on it -- Its very possible!!Andrew Alfonso