Question about mortgage
WHat do they look for when you apply for a mortgage? Does it have to be both of you (to get a higher mortgage)?
The problem is...I will begin student teaching in the fall, meaning, I will not be getting paid. After that I will sub for the remainder of the year (unless I am lucky enough to get a FT position from student teaching in January). We will also be TTC at that time so I may even sub the following fall rather than looking for a FT teaching position as I will have JUST had the baby (if all goes well).
We haven't REALLY started looking for a house yet. We live in an apt in a two family house that my father owns so the rent is cheap and it's got 2 bedrooms, therefore we have been able to save a lot of $$. As of now we would be able to put down about 20% on a home.
My question is how much will my student teaching (not getting paid) or my subbing (not great $$) affect our chances of a mortgage??
PS..We both have very good credit
The problem is...I will begin student teaching in the fall, meaning, I will not be getting paid. After that I will sub for the remainder of the year (unless I am lucky enough to get a FT position from student teaching in January). We will also be TTC at that time so I may even sub the following fall rather than looking for a FT teaching position as I will have JUST had the baby (if all goes well).
We haven't REALLY started looking for a house yet. We live in an apt in a two family house that my father owns so the rent is cheap and it's got 2 bedrooms, therefore we have been able to save a lot of $$. As of now we would be able to put down about 20% on a home.
My question is how much will my student teaching (not getting paid) or my subbing (not great $$) affect our chances of a mortgage??
PS..We both have very good credit
