How do I qualify for a mortgage if I have only 6 months of employment history with a $100k salary after 7 years of unemployment where I was living off capital gains of only $25k a year? I also have a 750 fico score and $250k to go towards a down payment after I sell my current house. Will any bank give me a mortgage with these circumstances or do I have to wait until I have a full 2 years of work history at my current salary?
>>62153350no one here can tell you. you need to talk to a lending specialist at a bank. if i had to guess, you're going to be fighting an impossible battle.
>>62153357So I basically have to wait until I reach 2 years of full time employment and then they won't care about anything before that?
>>62153367they might allow some leeway but it's made more difficult by>you made $25k/yr capital gains for the last 7 years while unemployed>you're presumably borrowing on a DTI qualified by your new, much higher income>you only have 6 months of tenure at your new job, but the economy is shit and layoffs are generally LIFO
>>62153400I'm planning on making more than a 50% down payment since I'm not looking at anything over $500k, so my DTI would be pretty low.
>>62153350Why do you want to upgrade your house?
>>62153410Because I currently live in a 1500 sq ft house and I want to upgrade to something 2000-2500 sq ft so I have more space for things like a home theater. I'm in a pretty LCOL area so houses are cheap here and I'll most likely be making even more money a year from now.
>>62153350wouldn't be an issue in denmark, you must be american
>had 500k in 2018>did not turn that into 5 million somehow>7 years unemployed>magically gets a mid-level 100k a year salarywell since your story is made up, sure maybe they'll give you a heckin yummers mortgage.
>>62153350just buy in cash (keep saving)ok so lets say by a miracle you qualifyyou will pay ~15k in closing costs and get a 6% mortgage, fuck dealing with that nuisance
>>62153484I didn't have 500k in 2018, but I did have enough crypto I was able to live entirely off of since 2018 with the way the price went during those years. I had to sell the last of it earlier this year though so I started looking for a job and got one within a few weeks since I had experience in software engineering before the unemployment.The biggest mistake I made was losing money holding shitcoins over the years. I had 25 btc worth of crypto at one point in 2017.
>>62153519>I had to sell the last of it earlier this year though so I started looking for a job and got one within a few weeks since I had experience in software engineering before the unemployment.bro, the tech market has been bleeding swes for years now.You're lying. Why are you lying? Ask yourself that and ask yourself why you're pretending you could have had 3 million bucks in 2024.
>>62153557My company has been hiring 2 new software engineers every month this year. The job market is growing again.
