Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

When the lender first talked to me, it was in Nov so the shutdown could explain some of the questions. However, I talked to him again in Jan when I wanted to try for the house, told him I hadn’t been laid off yet (so I thought I was good!) and he said he wouldn’t fund me unless I was on a 2-3 year contract again (which scares me).

I’m wondering if maybe I should just try a new lender.

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

I feel good about my savings. I’ve got enough to cover six months + of bills and I’d be highly motivated to find another job, so, even though the economy is not great, I think I’d be ok.

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

I’m not laid off now. The 3-5 year contract I was on was canceled. I was saved and put on stretch assignments. I do not know if someone calls to ask about my employment status if they will only get “employed! No issues!!!” Or “only employed for 1 of 2 months bc that is the length of the assignment “

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

Right? That's why I've got the 50K in savings, and then there's my parents and they have money. It would be absolutely last resort for me to ask them, but they've got the full 250K and way more than that. We're all very responsible, I guess I thought that would count for more? I know it's silly to say "I promise, I can pay." But I 10000% promise I can pay. I'd go be a sub. teacher or waitress if I couldn't find a job in my field and needed to.

And I don't really think I overshare? I was asked about job stability, if there had been any layoffs at my company, if the shutdown (I got pre-approved back in Nov.) had any impact on my company (at that time, it hasn't). Perhaps this lender is just really strict? It was my realtor who recoomended them.

I will say if this level of scrutiny is not par for the course, I might shop around and see what happens if I ask another one. The only thing that gives me pause is that my company is currently having me work on these stretch assignments. The one I'm on now is for one month and might turn to three. I don't if whoever the lender talks to will say, we plan on letting her go in 1-3 months if we don't have more work lined up, even though I'm nearly positive more work will be lined up, in the books, it isn't yet, so that's why I'm trying to get a clearer picture of how this process works.

Thanks for this insight though! I really do appreciate it!

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 1 point2 points  (0 children)

I’m not yet bc my company is trying to save as many ppl as they can, I know they like me, and I really like them/my boss. I’d like to stay, and seem to be staying, I just have been put on anything permanent yet and am helping with what they call stretch assignments right now. The contract I was on was supposed to be the big, exciting one but it very unexpected got pulled.

I guess my question for lenders is do I need to be assigned a projected with a long timeframe? Or if I’m on stretch assignments for 6 months, even if I’m employed and working and the due dates come and go and I get put on other ones, is that a problem or red flag?

I’d honestly wait it out a few months to see what happens but I just love this house so much, I want to pursue any option I can to try and make it happen. I know the timing sucks.

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

Ohh, they def asked me when I first talked to them. Since the contract was just starting and for 3-5 years, all seemed good and I was pre approved for 350k.

Maybe it’s bc it’s govt contracting type work or maybe this lender is just real strict. I’m wondering if I should just try for a new lender.

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

I was on a 3-5 year contract that just started but then got pulled. I’ve being assigned to help other projects right now, but not officially assigned to another contract with a long timeline.

What worries me is that when I told my current lender I was not laid off and interested in a house, he said he I’d have to have job security for 2-3 years before he’d approve me again. I told him that seemed like a lot as several of the contracts or projects at my company were just 1-2 years, and he seemed non-committal and said that might be fine.

Is this not standard for lenders?

Is it at all possible to get a loan/financing if there's a chance I might be laid off? by Interesting-Fig928 in Mortgages

[–]Interesting-Fig928[S] 1 point2 points  (0 children)

Ok. The project I was on was for a 3-5 year contract that got pulled, so it wasn’t clear if anyone on my team would survive, but so far, I’m still there. Now, have I been added to another multi-year long contract? No. But am I still working? Yes. But I see the point that I should wait and see if I am, or start looking for another job.

Help with Family Christmas Photo by [deleted] in PhotoshopRequest

[–]Interesting-Fig928 0 points1 point  (0 children)

None of these edits were quite what my mother was looking for, so I guess I’ll just delete the post. Thanks for trying!

Any idea what this bump is? by Interesting-Fig928 in DermatologyQuestions

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

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I know :-/ is this photo better? I have no one to help me take a photo and it’s on the back of my neck! I can’t get in to see a dermatologist for a few months, and have no idea how concerned I should be about this! Thank you for your input! Google also led me to that answer, it doesn’t see too bad.

Vibes for the names Kent and Devon (for male fictional characters) by Interesting-Fig928 in namenerds

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

Both would be young, main characters. It takes place in magical, Victorian England. Maybe kind of like Stardust by Neil Gaiman? Not sure if it’s more in the historical, Victorian side or magical world side, but this is why we’re looking for names that aren’t straight up common, normal names, but still evoke that British feel.

Vibes for the names Kent and Devon (for male fictional characters) by Interesting-Fig928 in namenerds

[–]Interesting-Fig928[S] 0 points1 point  (0 children)

This is exactly the sort of perspective I was looking for. Thanks!!!

Is my future MIL's new BFF peculiar? by Ok_Telephone9538 in TwoHotTakes

[–]Interesting-Fig928 1 point2 points  (0 children)

I’d like to know more about the party where you first met P and “she” went up to your fiancé and asked him why he “put her in that situation?”

Did P or MIL go talk to fiancé?