Browse Forums Home Finance 1 Mar 02, 2009 8:53 am My husband and I are in the process of applying for our first home loan- we have a brilliant mortgage broker, and our loan is going through keystart. We have done all of our paper work now and are waiting to see if we have gotten pre-approval.
I am getting a bit stressed as I work for the Ed Dept of WA and I am only on a fixed term contract (12 months). I have worked with them every year for 6 years now, and the longest I have been without work bar being on maternity leave is 5 weeks, in that entire 6 years. Do you think this is going to affect us being eligible for a loan? Re: Loans and Fixed term work contracts 2Mar 03, 2009 12:36 am alinpete I am getting a bit stressed as I work for the Ed Dept of WA and I am only on a fixed term contract (12 months). I have worked with them every year for 6 years now, and the longest I have been without work bar being on maternity leave is 5 weeks, in that entire 6 years. Do you think this is going to affect us being eligible for a loan? I am not familiar with the lender you mentioned but your employment is fine. A lot of banks and non bank lenders on our panel accept contract employment especially if you have been working there all these years. Good Luck. home loan on contract employment 4Mar 05, 2009 1:57 am alinpete Thanks for that, it is so stressful waiting to hear if you are finance pre-approved especially when we already have a block with an offer on it, and a house plan picked out. I'm sure you'll hear soon. The fact that you work in education is a big plus. Lenders love the education industry, education and health jobs are seen to be more secure than others. MBA and HIA both have sub contract agreements, check them out 2 7300 Industry type domestic contracts are prepared by industry bodies for the benefit of the builders. This means that if you are the owner watch out. One of the points is… 0 3201 Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 8 17170 |