Reply to Can you buy a house without a job?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The bank will look at the actual alimony/child support agreement. You will not be able to obtain a 30 year mortgage if your spousal support is only for five years. The prospect of potentially maybe accessing retirement funds early is not going to alleviate this situation. You need probable income for the length of the mortgage. That means either gainful employment or 30 years of alimony[/quote]

How do people ever buy houses then? They could lose their job, and people will sell their house before 30 years is up. Is it really expected you'd be living there 30 years?

It's moot anyway because there are no houses for sale in the school district, so then what? Rent a house or apartment? Is a bank statement enough proof if I don't have a job?[/quote]

I recently purchased, I needed -

W2s
Tax returns for two years
Bank statements for six months
A letter from my employer verifying employment
Credit reports

Basically they want to verify you have a solid income history, are employed, debt to income ration, and have some savings to cover a period of unemployment if you were to lose your job tomorrow.

OP does not have income history or employment.

A friend of mine had her mom and dad buy her a house, then she took over payments after she got a job.  Being a SAHM after divorce is pretty rare, and reserved for HUGE divorce settlements. [/quote]

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