Damn The Man
I just found out the worst news. As some of you know, Chad and I have been making plans to buy a house. The current plan is to straighten out our finances and work on my credit, buying a house in six month or so. I have also been working on getting my stuff together to get a teaching position in the Aug. I just found out that I would need to be at my current job for at least two years to qualify for a good interest rate on a home loan.
Two years of solid employment shows a stable income, without it, it could raise our interest rates. Checking out the calculation, there is a potential $200 a month difference between a 6 and 7 percent interest. Thankfully, I will have been at my job for 2 years this may; however, I will have to stay with my job until the first mortgage payment, which will be anything from 6 months to a year from now. I really, don’t want to say at my current job any longer than I have too, but … I would rather have a house than a better job.
Two years of solid employment shows a stable income, without it, it could raise our interest rates. Checking out the calculation, there is a potential $200 a month difference between a 6 and 7 percent interest. Thankfully, I will have been at my job for 2 years this may; however, I will have to stay with my job until the first mortgage payment, which will be anything from 6 months to a year from now. I really, don’t want to say at my current job any longer than I have too, but … I would rather have a house than a better job.