Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Is the Corona Virus Causing mortgage lenders to be more flexible?
Hi guys! I'm a super newbie in real estate investing, haven't invested in one property actually. I've been studying real estate on my own for about a year now and I know how difficult it can be to get approved by a mortgage lender. I've been interested in house hacking for as long as I can remember.
I'm 22 years old, have a credit score of 620, and will have a co-signer with solid income and 700+ credit score, I have a shaky work history though. I've had 2 different jobs last year, and one solid job for 3 years before that. I'm going to use a FHA loan so I can take advantage of 3.5% down payment. But I was wondering due to the circumstances with fewer people buying houses, if lenders are being more flexible when it comes to pay stubs and job requirements?
I have one friend I know personally who is 21 years old who was looking for a place to stay last week, purchase a home yesterday haha! I know it's something you have to prepare for, especially in Massachusetts so this made me curious of the flexibility right now.
AND FOR THOSE WHO CHOSE TO READ THIS AND RESPOND THANK YOU FOR YOUR TIME!!! VERY MUCH APPRECIATED.