Well this week has been a roller coaster of emotions for J and myself. Not only did we find the house we loved we had enough guts to put down the earnest money contract. Big step for us. So next step loan approval. This shouldn't have been an issue at all. J has a great job, great credit and a savings so we didn't see any issues then Monday came. Not only did we have the time change but we were not approved. J and I were shocked. I mean really us not approved. The one thing we did not plan for. So basically for all you first time home buyers out there in the world there are some new FHA requirements for those who work at a job with commissions. The lenders want to see at least 2 years of employment with a company before they will use your commissions as income. This was heartbreaking for J and I. J will be with his job for 2 years 4 weeks after our anticipated closing date. I was shocked but I understand why we have the requirements. So needless to say J wasn't happy about this and after working what seems like forever (13 days not a day off yet) it was not a good Monday. Then Tuesday comes and changes everything. Another family member who works at the same job as J was approved for his first home. He has worked at the same job for less time then J. J and I were shocked so we called our builder and now we are trying to be approved with a different lender. Now back to the waiting game. We hopefully will know something by the end of the week beginning of next week.Who knew this could be so stressful but in the end so worth it. Congrats C & C on your first home!! We love you guys so much!!
More to come....
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