Just getting out of college and looking to purchase a home?
The good news? You may qualify for a mortgage sooner than you think! Many first-time buyers assume they need several years of work history to get approved, but lenders take more than just employment history into account.
How Lenders View Employment History
Mortgage lenders typically like to see a stable work history to ensure you can make consistent payments. However, if you’ve been in college, your education can count as part of your employment history! This means that even if you’ve only been at your job for a year, lenders may still approve your mortgage application because they recognize that your schooling prepared you for your career.
What Lenders Consider When Reviewing Your Application:
Your Education – If your degree is related to your current job, lenders may count your schooling as part of your work history.
Job Stability – Having steady employment in your field, even if it’s only been a year, strengthens your application.
Income & Debt-to-Income Ratio – Lenders want to see that your income can cover your mortgage, along with other debts.
Credit Score – A higher credit score can help you secure better loan terms and interest rates.
Down Payment & Savings – Some first-time homebuyer programs offer assistance to help with the initial costs of buying a home.
First-Time Homebuyer Programs Can Help
If you’re a first-time buyer in Houston, you may qualify for down payment assistance programs, low-interest loans, or grants. Programs such as FHA loans and conventional loans with low down payment options can make buying a home much more achievable.
Ready to Take the Next Step?
At The Bowlin Group, we specialize in helping first-time homebuyers navigate the real estate process. Our team works closely with trusted lenders who understand your unique situation and can guide you to the best mortgage options available.
Buying a home in Houston is possible—even if you’ve only been working for a year. Let’s explore your options together!
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