How hard is it to get a home mortgage while on contract?
I’m hoping to buy a home in the near future. I have a very good job, but I am currently on contract. I have been here for close to a year and have another year still remaining on my contract, at which time I will hopefully be made perminant. I have $25,000 to put down towards a home and have a good credit score. What are my odds of getting a mortgage? How reluctant are companies to give loans to people who work on a contract? I’m not working for a temp agency, I’m working on a contract at a University. I’m full time and salary, but after 1 year they do not have to keep me on full time if they choose. A: Lenders are getting a lot more picky about their qualifications due to the credit crisis. If you have 2 years of work history w/ tax records, etc, they may just ask you for W-2 forms and pay stubs. But, they may also ask for a copy of the contract, which could make things difficult. You may want to go through a mortgage broker who has experience with more difficult loans. If you’re unab
