Lenders generally require a 2-year history of employment, as most people know. One exception to this involves borrowers who just graduated from college or trade school.
If a borrower just got out of school, all we need to qualify for a mortgage is a diploma (or transcripts), a valid offer letter and 30 days of pay-stubs.
Technically, a borrower’s schooling should be related to his or her field of employment, but we can often dance around this requirement with creative letters of explanation.
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