Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase.
This morning I sat down with Andrew Jallo from Dacotah Bank. Can you still get approved for a mortgage if you just started a new job?? Listen to what Andrew has for options. You can reach Andrew at 605.692.8600 or Andrew.Jallo@dacotahbank.com. His office is located at 1441 6th St., Brookings SD 57006 or on the web at www.dacotahbank.com.
CAN I GET A NEW MORTGAGE IF I JUST STARTED A NEW JOB?
-And, we wait, here we go. Hey, good morning everybody, Shane here from the Brookings Home Team powered by Century 21. And Andrew here from Dacotah Bank. It is 8:15, it is Monday morning, that means Monday Morning Mortgage Tip. And again, once again, it's not a holiday, so yay for Andrew and not having to do it on a Tuesday. But as you guys all have Andrew's information on the top, on the bottom, on the sides, wherever your device allows you to see it. But we'll let him talk about the tip that he has for us today and kind of go from there. So, take it away.
- Thank you Shane for having me. Today, I'm gonna talk about employment. So, in order to pay back the house you gotta have some sort of income to repay it.
- Awe, really?
- Right? One thing that we see a lot of times is maybe you're starting a new job and you think, hey, I'm not able to afford a house because I'm not on the job yet, I don't have a pay stub. We do have the ability to use what we call a new employment offer contract. So if you get that contract from your employer, bring it in to your lender, we can look at that, and we can actually qualify you based upon that assumption that you're going to be making this amount of money. We work with your HR department and make sure you've met all the criteria for that new contract, and then we actually can close on your loan before you even start on that new employment. So, it really makes a difference because if you're moving to Brookings and say, hey, I can't buy a house and I'm gonna rent six months to a year, think of rate volatility, what house prices are gonna go up, so really work with your realtor, Shane, work with your lender, and we can kind of talk through that.
- Yeah, like you said there are some back-end stuff that they kind of have to watch, so it's always a good idea to give Andrew a call, talk with him and kind of see what falls into place for you there. And we were talking off camera with South Dakota State University here with the professors and things like that coming in. It's a good opportunity for them to jump into a home. 'Cause they're not, their contract doesn't start until August or September, or something like that, so you still have an opportunity to purchase a house if you're just moving into the state. And of course, the Grants for Grads program still available there for those graduates from SDSU and other accredited colleges too. But, you just graduate and don't have a job or you're working on getting a job, that Grants for Grads program is a good one too, so. So that is the Monday Morning Mortgage Tip. Like I said, if you have a question for myself or for Andrew, please let us know, message us in the comments here. Reach out to Andrew, I'll have all of his information on the post, and if, please feel free to share this video with anybody else you think would be interested in listening to it. So, that does it for this week's Monday Morning Mortgage Tip, we'll be back next week. Arts in the park this weekend. We're gonna grow by leaps and bounds population-wise, 20,000-plus people, so if you're coming to Brookings this weekend, look us up, we'll be happy to talk to you, so. Alright guys, have a great week, we'll talk to you later.
- Thank you.
Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details!