Ep. 153 – Get a Home Loan Without Two Years Employment – (even right out of college!)

Ep 153: Get a Home Loan Without Two Years Employment - (even right out of college!)


Ep 153: Get a Home Loan Without Two Years Employment - (even right out of college!)

Who says you can’t purchase a home right out of college? David Sidoni believes first-time home buyers DON’T need two years on the job. In this episode, he shows you how this is possible. Find out how to buy your first home right out of college and NEVER pay rent.

David shares how you can build your credit history when you’re young and get a bank to get you a loan. So skip those random Craigslist apartment roommates and all the mess that comes with it. Whether you’re fresh out of college or just venturing out to buy your first home, join this conversation and learn the tips you can use to make this goal come true. Plus, find out David’s special announcement!

Here are some power takeaways from today’s conversation:

  • How to build your credit score
  • How a bank evaluates your ability to get a loan
  • The power of giving yourself options
  • How to get a home loan even if you don’t have two years of work history

Episode Highlights:

[05:52] How to Build Your Credit Score

First, google the credit score pie chart to see how your credit score is calculated. On your 18th birthday, get a credit card or two IMMEDIATELY. We are a society where credit score matters. So get a card because you need years of history. This is the system we’re in and you have to understand how to play the game. Don’t rack up debt obviously. You’re doing this just to get credit history since you understand how they work and you know how to handle it. Listen to episodes 3, 8, 56, 64, and 90 to learn all about credit and how to keep that score going up.

[09:56] How a Bank Evaluates Your Ability to Get a Loan

The home loan is based on monthly numbers, not the gross amount of your debt. They look at your monthly debt-to-income ratio, which is the amount you bring in every month minus just your monthly payments out.

[13:46] Options, Options, Options!

Do not let the student loan scare you into doing nothing and never even exploring your options. One of the biggest mistakes of people in their 20s who have student loans is that they never ask what they could do to improve their situation. Check out Episode 126 to discover what you can do to improve YOUR situation.

[15:24] How to Get a Home Loan Without Two Years of Work History

Everybody always says it’s a staple. It’s a norm. It’s a standard in real estate, you can’t get a home loan without two years of steady employment. No, absolutely not. That is wrong. Truth bomb. This is a myth. Now. Is it optimal? A lot of times yeah, sure it is. But not everybody’s working a regular W2, W4 job and has two years of history. I’ve seen it work countless times without two years of work. Sometimes you just need a contract with a brand new employer or just one pay stub at a new job. That’s it.

Everybody always says you can't get a home loan without two years of steady employment. But that’s a myth.

Resources Mentioned:

E129: Interview With A First Time Home Buyer Who Bought WITHOUT Two Years Of Employment

E126: Buying a Home When You Have Student Loans

Get helpful advice delivered to your inbox.

Here More Episodes

You thought that the last episode was the last one in David Sidoni’s 2023 housing market predictions series. PSYCHE. In this BONUS episode, he gives you some insight on how a recession could totally upend all the other predictions we’ve talked about so far.

Here it is at long last: the final installment of David Sidoni’s 2023 housing market projection series. You’ve been waiting for it for a long time and now you don’t have to wait any longer. This episode is about PRICES. FINALLY!

David Sidoni is back for part three in his 2023 housing predictions series. What’s on the menu for this episode? INVENTORY. Jump in and listen to David as he discusses how construction, prices, and supply & demand are all playing a role in this year’s outlook. Expert opinions, hard data, surveys… it’s all there and David leaves no stone unturned.

I hope you are getting your questions answered about this crazy process. I know there’s not a lot of clear information out there on the internet, so that’s why I started this podcast. To demystify the whole thing and get you first timers the help you deserve!  Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out.  And if you’re not already a regular listener, please subscribe.  If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts. Let’s change the way the real estate industry treats you first time buyers one buyer at a time – and make sure your favorite people don’t get screwed by going into this HUGE step blind and confused.  Viva la Unicorn Revolution!

Get Expert Real Estate Help & Advice