Can you get approved for a mortgage having just gotten off of unemployment?

Kymrie, you depending how long you recevied unemployment for, typically lenders like to see you back any from 6 to 12 months back on the job in the same career field, but that depends on how long your were out of work.

It will also depend how long you were unemployed.

The simple answer is yes. Believe it or not, the fact that you were collecting unemployment actually helps you as compared to someone that was just unemployed. Provided that you maintained a decent credit rating throughout your unemployment and that the new mortgage payment plus your monthly debt obligations are below 45% of your gross monthly income (before taxes are taken out), you should be fine. If you would like to go over the specific numbers, feel free to call me at 347-RON-BORG (766-2674).

Kymrie, How long were you both employed before unemployment? How long were you both on unemployment? Are you both in the same type of work field as you were with your last jobs? Those answers will help determine if you can qualify as well as finding out your debt to income ratio. Thanks! Michelle 201-962-3555

Probably. There are a lot of pieces to your puzzle missing, but the simple fact that you were not working, by itself does not disqualify you. Contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com