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I am in grad school, graduate in May, and have a written job offer including salary that I will start in September. I know that here in Arizona I need a pay stub as proof of income before I buy a house on the market. Is that different if I want to buy a new home and where it won’t close until after I start working? Will the loan officer and builder go for that?

3 Thoughts on Even if I’m not currently working, can I start building a house if I will be working before the move-in date?
  1. Reply
    ibu guru
    June 11, 2013 at 6:45 am

    Got cash? Do as you please.

    To get a mortgage, you need 20% down, plus all closing costs, plus 3 – 6 months of reserves, 3 years track record on your job, credit score above 700. Anything less and you run serious risks of not being funded by closing – that’s happening lately at rates never before seen.

    Rent. Jobs are still vanishing. No telling if that written offer will hold up 6 months from now.

  2. Reply
    June 11, 2013 at 7:42 am

    No lender will give you a loan until you can demonstrate 2 years of stable employment.

  3. Reply
    June 11, 2013 at 7:46 am

    in order to get any loan you must be employed and have proof of the income should be continuing at least so your answer right now is no

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