I dont qualify for a mortgage because.........

Try another mortgage company.

 

If you were an employee of the company while in school, your employment starts on the first day of school. Fill out your next loan app accordingly.

Find a new lender and use a mortgage broker, not a bank. They have more products to offer.

Good luck.

 

Pay attention to what you leaned would qualified for mortgage in your case. All mortgages are unique
Each time you apply for mortgage your credit score DROPS! The system sort of sucks as it coerces folks too sign with first lender who approves them. My wife is mortgage specialist and had seen many bank door to door applying for mortgage only to drag mortgage down to “B” lenders offering substantially high rates. DONT did that hole. You could run a soft mortgage app to feel out a banker. Banker may sujest a viable option.
Good Luck. !!!!

 

[Pay attention to what you require to qualify for mortgage. Each time you apply for mortgage your credit score DROPS! The system sort of sucks as it makes folks sign with first lender who approves them My wife is mortgage specialist

 

That's right, the company paid for school but that's paying for school, you are still not an employee of the company until you are hired, so school doesn't count.

It is the same as saying "I went to school and got a degree in engineering so I count my three years in school as work experience", it won't fly.

 

New drivers and new mortgages? No loan underwriter in the world is going to approve that given the rate at which new drivers figure out either they can’t hack it or it just sucks really bad, and within 6 months they’re jobless either of their own choosing or let go, perhaps unemployable in the truck driving trade if they screwed up bad enough early on, as many do.

I doubt the decision has as much to to with HISTORY so much as likely FUTURE.

 

You must be in the "same line of work" for a specific amount of time. It used to be 2 years, I don't know if that has changed. For example, One year carpenter and one year IT or diesel mechanic won't qualify for the 2 year same line of work. There are always exceptions.

 

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I agree. In school I played with computers and networks. Even hacking fellow students, one in particular. (I did not feel very good inside due to the necessity of the destruction I inflicted on his system and his emotional outburst. That was unexpected and required some work by the teacher to patch him up. Put very simply his computer is going to power down no matter what he picked via the domain management.)

But that means nothing to anyone. I went to college. YAY. NOT. (See waynes world for description of this word usage)

I knew that mortgage people could care less about trucking as a source of income. However my work around in time was to get married and became a home owner with two simple words "I do" and assumed the entire debt load of the spouse as well. We paid off the house in 6 years using income from trucking off a 15 year note. Then went after the cars and paid them off in two.

My credit in (Or should I say our) those days became near perfect. But there was no point. I can fast forward to where I am now with the pile of medical debt and a destroyed credit. I do not expect to purchase a home in this life time. Been there done that already dont need to do that again. Therefore credit to me is worthless.

There is a saying. IF you need credit you smile at the bank. However if you are in a cash non debt position the bank smiles at you. Eventually it is good to remove the bank from daily living, but in this age of electronic drafts for billing it's pretty hard to do. (I Am working on that. Get a few months ahead in billing, kill the drafts and start writing checks by mail a month ahead.)

The biggest problems has been with the state. When they wanted to know what I did for a living, I say Trucker. Then they ask what I was paid. When they are told mileage they don't understand what that comes out to in terms of dollar per hour. Then they understand there is no such thing as 40 hours in trucking (100+ weekly is more like it) Then they ask for last years tax information and eyes get this big, you took home this much?

I say to them no, that's half our our potential for the year for two people as a team. Which leads to a entirely new set of explaining as to what teams do in this industry.

There are times I feel like a outcast in our society because I chose to spend my life as a trucker. People who make decisions based on your work and income simply do not understand what being a trucker really is.

It's much easier now when I am no longer involved in trucking. However it is a loss because I stopped in my late 40's pernamently. I must wonder how much more that could have been produced if I was able to remain in this industry at the payroll that is possible each year in the high 60's gross. It's a loss to the Nation as well because the income I have now is very little and consumed by medical billing.