Marketplace Home Mortgage: Brian Quigley

It is no question that Colorado is one of the hottest markets in the nation to live right now. I have been getting many phone calls of people wanting to know what it would take to get qualified for a home loan. For most, it is quite simple, especially if you are remaining employed with that same company. A simple letter, on company letterhead, specifying the employee is being relocated to Colorado, or can do what they do professionally, anywhere remotely in the United States. A very simple, straight forward process.

 

For others the process can seem quite daunting. Especially if you throw in a multitude of variables into the equation.  I will go over each of these in detail.

  • Moving with no job in place
  • Moving with a job in place, but in a different industry
  • Moving with a sales job in place with 100% commission
  • Moving with a contract in place
  • Moving with an offer in place

Moving with no job in Place

Moving with no job in place to Colorado, it is safe to say you will need to be renting for awhile.  If you are in between jobs, and have an employment gap, you will need at least six months in the new position, for underwriting to take a serious look at your loan. If you had an employment gap, and are entering the workforce again, in the same industry, and have at least a 2 year history in the industry, I would say you might get approved with 30 days of pay stubs on the new job.

Moving with a job in place, but in a different industry

Moving with a job in place, but in a different industry is quite easy. The following are some documents that will clear that condition with an underwriter.

  • An offer letter from the future employer
  • A contract from the future employer, if you are a contract employee
  • 30 days of pay stubs in the new position

In some instances, we will be able to use future income to get you qualified, however you will need to at least of started the new position before we actually close your loan and fund it.

Moving with a sales job in place with 100% commission

Moving with a sales job in place with 100% commission will need a history in that position receiving commission income for at least 2 years. If you are moving into a new position in sales, that will be commission base 100%, then you will need to rent for at least 2 years, since commission positions are looked at just like being self employed. In instances, where there is a base salary involved, we can qualify you based upon the base income, but we will not be able to count the comissions in the new position.

Moving with a Contract or Offer in Place in  New Industry

Moving with a contract or offer in place in a new industry is actually not as hard as you might expect to get qualified. Below are some documents that an underwriter will take into consideration when looking at your loan.

  • Offer Letter
  • Contract, if contract employee good for at least one year.

Feel free to email me at loans@brianquigley.com if you have any further questions. You can reach me anytime at 720-524-3215.

For fastest online approval you can visit me on the web at www.brianquigley.com. When there, simply click APPLY NOW.

 

Check Out Our Reviews on Zillow!CLICK HERE
Start Your Mortgage ApplicationAPPLY ONLINE

Join our Newsletter to receive latest home buying insights.

See what our past clients are saying about us.

Get the information you need here.

Don't Take Our Word For It, Our Satisfied Clients Say It All

Check out the testimonials from our happy customers below

Testimonials

He was very professional and knowledgeable

we have closed several loans with Brian. He was very professional and knowledgeable on each. One of our loans had a few problems arise and he was very creative in finding solutions so that w…Read More

Closed purchase loan. Littleton, CO

Thanks for all of your hard work and patience

Brian, Thanks for all of your hard work and patience with me throughout the entire home buying process. You exhibited extreme understanding with my specific situation and helped me improve m…Read More

Jen, Security-Widefield, CO

Thanks a million, Brian!

A true pleasure to work with. Very friendly, polite and knowledgeable. I will do business with him in the future and will gladly refer people his way; Thank a million, Brian!…Read More

Closed purchase loan. Parker, CO
uxicached