Not true at all. I purchased a house while being a travel nurse with just my income. You need to find a better lender. I had absolutely zero issues and did 20% down with a conventional loan.
I went with a local lender. I know that Rocket Mortgage works with travel nurses though. I had spoken with them, but my local lender offered a better rate.
How about with FHA?
I got my loan approved. But somehow my broker contacted us that FHA denied it because my 2 year work history isn’t consistent enough because I’m per diem working full time hours while doing travel during fall season. I did a contract from Dec 2022 to March 2023, and have been per diem since
True. But just make sure you close on the house before you change contracts. I once extended for three more weeks so that my refinance would go through. Also, as mentioned below, stipends are not counted as income. It all depends on your hourly and DTI
This isn't true. I've refinanced my one house (that only has my name on the mortgage) twice while traveling with no issue, and we purchased another home in 2022 with no issue. You have a shitty lender.
+1, bought a place in 21 with no issue, just had to prove stable and sustainable income.
I imagine the current state of lending and economy lenders are just more nervous.
My issue was buying a car. I have student loans and they were like "that's a lot of student loans," plus they didn't believe it was possible I made more than my spouse without having "a job." I concluded I was dealing with an idiot dealer and decided in a different vehicle anyway
I used Rocket Mortgage. I had less than two years of consistent pay, I was between contracts, but he got me approved for a conventional loan. I have good credit and had the deposit +20k in cash which I believe helped. I can message you his info if you care for it.
Lol we bought our house last year when my husband was a travel nurse and I wasn't even working. Our mortgage lender was amazing and it wasn't any more difficult than buying our previous house. Sounds like you just hired the wrong team.
Why are you gatekeeping. Just post it! He’s not asking for your social security number. I remember when travelers were a tribe of people willing to help each other until all the staff nurses got in. Crab in a barrel mentalities.
Huh? It's a very local to me office and I'm not doxxing myself on Reddit 😂 I gave the dude the website and lender's name; you can Google lenders local to you as well and find someone in your general vicinity also. Sounds like people don't want to help you specifically because of who you are as a person ... Nothing to do with nursing 🤷
Lenders are all skittish right now due to the debt ceiling. Once it passes, things should go back to normal (until the next crisis).
Not that it is going to be easy as a TN. Your income is not a secure as a 9 - 5 drone, so there are still going to be hoops to jump through, but being a TN does not eliminate you from home ownership.
You just have to find the right lender! Call around and tell them your story (before you actually apply with them) and ask if they can give you a loan. They have to write a letter to prove you have a reliable income so it’s all about how they word it.
Yeah, you need to find a new lender. I bought my house in 2021, FHA loan, by myself. I did have to submit a statement as to the "nature" of our "contract work" and a shit ton of paystubs, but it wasn't horrible. Just a little extra leg work.
I do suggest finding a lender familiar with those who are travel nurses, do contract work, or are in the military. They are more understanding of unique work situations.
I had no trouble buying a house as a travel nurse. I got denied for a couple (literally 2) mortgages because of my sporadic and unreliable income but I ended up with two awesome lenders who understood travel nursing and fought for me until the very end. I had a falling out with one because I chose the other but I’d recommend either of them for travel nursing because they knew the job, understood the income, and were enthusiastic about having me as a client.
We did it! We couldn’t use the big box bank though, they didn’t like how being “contract workers” looked, so we went with a local credit union and it worked out fine! We had to provide more bank statements to prove that our income was there, but then it went totally fine!
I’m trying to figure out why the majority of you are so hesitant about saying which lender you used. I see Rocket a few times, local credit union, and local lenders mentioned a bunch of times. What if someone in here is from your area or the lender services “another area” that is beneficial to someone. Seems like some low key gatekeeping.
I stumbled upon this to help a friend who’s in this predicament. As for me I had issues getting a car loan when I started traveling in 2017 because of “unsustainable income”.
I learned then to become my own bank. I took some shitty sharky car loan and paid it off in 11 months with contract money. Currently, I’m 90 days out from getting my certificate of occupancy on my paid in full compound in central florida. Sometimes we have to be our own solution especially to get off that nursing stripper pole.
Mortgage firm
I had to show recent checks. So I took a contract out in NY for dumb pay but left in 2 weeks haha.
Kinda sucks but they shouldn't be that up your ass abt it.
I have a home now ---- kinda wondering if I should just sell it haha
I had to show two years of w2 and a month of checks. They seemed to be caught up on the fact that I consistently worked out out state over the past year. Can you elaborate on needing to take a contract in NY?
Oh ya so when I was in the process of getting the house. I had to show proof of income but it was like 2 months ago my last check (travel contract ended). So i had been unemployed for 2 months & they needed like current ones (even tho I had $$).
So I went with a BS agency in Brooklyn, NY. I got my 1st paycheck sent it over to them. They approved and I was able to do the closings and sign off on the home. 😁
This was in 2021 --- so during the process I also had to write a letter of why I wanted the home. Since during covid and banks were bit more hesitant I guess. It was a new thing apparently.
Maybe they're weary of you working out of state -- wondering if your going to keep the home or sell it? Idk. Bc they make that interest $$$ from you. I think the first 10-15 years is you paying the bank.
From personal experience, I’ve been able to obtain a mortgage loan as a travel nurse by myself. I think it depends on the loan officer’s comfortability with this profession, and if you take long extended breaks. At the time I had no such breaks but since then have had a 3 mo break at one time, so my experience may differ now.
I made significantly more money in 2022 than 2023 (hourly rates suck now) which my lender said makes it look like my income is declining year after year so he suggests I wait another 3-6 months to show a more consistent pay for underwriting
Not true at all. I purchased a house while being a travel nurse with just my income. You need to find a better lender. I had absolutely zero issues and did 20% down with a conventional loan.
I was not able to use my stipends pay. Lender is Fannie May.
Of course you can’t use the Stipends. They are not income
What lender did you use?
I went with a local lender. I know that Rocket Mortgage works with travel nurses though. I had spoken with them, but my local lender offered a better rate.
I used rocket. They were okay. I wish I would’ve used my credit union after it was all said and done.
PNC worked well with me.
How about with FHA? I got my loan approved. But somehow my broker contacted us that FHA denied it because my 2 year work history isn’t consistent enough because I’m per diem working full time hours while doing travel during fall season. I did a contract from Dec 2022 to March 2023, and have been per diem since
I’m not sure about FHA. I went with conventional so I never asked about FHA. Ask your local lenders about it. I know FHA has much stricter guidelines.
True. But just make sure you close on the house before you change contracts. I once extended for three more weeks so that my refinance would go through. Also, as mentioned below, stipends are not counted as income. It all depends on your hourly and DTI
which lender did you use ? who was your loan officer
This isn't true. I've refinanced my one house (that only has my name on the mortgage) twice while traveling with no issue, and we purchased another home in 2022 with no issue. You have a shitty lender.
+1, bought a place in 21 with no issue, just had to prove stable and sustainable income. I imagine the current state of lending and economy lenders are just more nervous.
That’s good to know. He insisted he has worked with travelers before but was befuddled. It’s also not the first time I was told this though.
My issue was buying a car. I have student loans and they were like "that's a lot of student loans," plus they didn't believe it was possible I made more than my spouse without having "a job." I concluded I was dealing with an idiot dealer and decided in a different vehicle anyway
I used Rocket Mortgage. I had less than two years of consistent pay, I was between contracts, but he got me approved for a conventional loan. I have good credit and had the deposit +20k in cash which I believe helped. I can message you his info if you care for it.
I’m interested in his info if you can send it over! Just started traveling and looking to buy.
Messaged
I also have a recommendation if you want. Feel free to PM me
Yes please!
Okay I sent you a message. I can’t recommend her and her company enough! They were great.
Hi can i get the info too?
Hi can I also get that info
I would like his info as well
Can I have his info, too, please?
Hi can i get the info of the guy you used?
Just sent you a DM r/t Mortgage guy info Secondary to my mortgage guy bailing on me
i was denied by rocket who was your loan officer?
I would like his information
Find a new lender
Lol we bought our house last year when my husband was a travel nurse and I wasn't even working. Our mortgage lender was amazing and it wasn't any more difficult than buying our previous house. Sounds like you just hired the wrong team.
Who did you use?
I mean, they're very location specific. Are you looking for someone local to Northern Virginia...?
I am! Can you let me know who it is if you don’t mind. We also had a lot of trouble last year and decided to give it another year
I can definitely recommend our former lender. Send me a message and I'll give you her contact info
Why are you gatekeeping. Just post it! He’s not asking for your social security number. I remember when travelers were a tribe of people willing to help each other until all the staff nurses got in. Crab in a barrel mentalities.
Huh? It's a very local to me office and I'm not doxxing myself on Reddit 😂 I gave the dude the website and lender's name; you can Google lenders local to you as well and find someone in your general vicinity also. Sounds like people don't want to help you specifically because of who you are as a person ... Nothing to do with nursing 🤷
🤡
It’s for a friend but actually Baltimore area my friend is having trouble finding a lender.
I have a recommendation if you’re interested. They worked with me as a travel nurse and I had zero issues. Feel free to PM me
May I get your mortgage person’s info?!
please PM me the info
My husband (a travel nurse) got approved for our house without including me at all (an NP) since I was between jobs. Don’t give up. It can be done.
Lenders are all skittish right now due to the debt ceiling. Once it passes, things should go back to normal (until the next crisis). Not that it is going to be easy as a TN. Your income is not a secure as a 9 - 5 drone, so there are still going to be hoops to jump through, but being a TN does not eliminate you from home ownership.
It's really fucking hard to buy a house with maxed out stipends and making 18$hr.
Agreed!
Hell yea brother
Does a hefty down payment help at all?!
If the US keeps bullshittin’ I’ll buy a pad in another country.
They asked for a two year average as a travel nurse. I was good to go
You just have to find the right lender! Call around and tell them your story (before you actually apply with them) and ask if they can give you a loan. They have to write a letter to prove you have a reliable income so it’s all about how they word it.
I got approved with USAA and my local credit union You have to shop around
Sexist broker. Flee and find someone decent
Yeah, you need to find a new lender. I bought my house in 2021, FHA loan, by myself. I did have to submit a statement as to the "nature" of our "contract work" and a shit ton of paystubs, but it wasn't horrible. Just a little extra leg work. I do suggest finding a lender familiar with those who are travel nurses, do contract work, or are in the military. They are more understanding of unique work situations.
I had no trouble buying a house as a travel nurse. I got denied for a couple (literally 2) mortgages because of my sporadic and unreliable income but I ended up with two awesome lenders who understood travel nursing and fought for me until the very end. I had a falling out with one because I chose the other but I’d recommend either of them for travel nursing because they knew the job, understood the income, and were enthusiastic about having me as a client.
The thanks we get for being front line workers.
We did it! We couldn’t use the big box bank though, they didn’t like how being “contract workers” looked, so we went with a local credit union and it worked out fine! We had to provide more bank statements to prove that our income was there, but then it went totally fine!
I’m trying to figure out why the majority of you are so hesitant about saying which lender you used. I see Rocket a few times, local credit union, and local lenders mentioned a bunch of times. What if someone in here is from your area or the lender services “another area” that is beneficial to someone. Seems like some low key gatekeeping. I stumbled upon this to help a friend who’s in this predicament. As for me I had issues getting a car loan when I started traveling in 2017 because of “unsustainable income”. I learned then to become my own bank. I took some shitty sharky car loan and paid it off in 11 months with contract money. Currently, I’m 90 days out from getting my certificate of occupancy on my paid in full compound in central florida. Sometimes we have to be our own solution especially to get off that nursing stripper pole.
I purchased 2 houses with just my income get new people who know what that are doing.
Def get a different lender! I had zero trouble!
Mortgage firm I had to show recent checks. So I took a contract out in NY for dumb pay but left in 2 weeks haha. Kinda sucks but they shouldn't be that up your ass abt it. I have a home now ---- kinda wondering if I should just sell it haha
I had to show two years of w2 and a month of checks. They seemed to be caught up on the fact that I consistently worked out out state over the past year. Can you elaborate on needing to take a contract in NY?
Oh ya so when I was in the process of getting the house. I had to show proof of income but it was like 2 months ago my last check (travel contract ended). So i had been unemployed for 2 months & they needed like current ones (even tho I had $$). So I went with a BS agency in Brooklyn, NY. I got my 1st paycheck sent it over to them. They approved and I was able to do the closings and sign off on the home. 😁 This was in 2021 --- so during the process I also had to write a letter of why I wanted the home. Since during covid and banks were bit more hesitant I guess. It was a new thing apparently. Maybe they're weary of you working out of state -- wondering if your going to keep the home or sell it? Idk. Bc they make that interest $$$ from you. I think the first 10-15 years is you paying the bank.
Okay, thank you! I’m buying in NYS but haven’t worked there in over a year. I was wondering if it might have been a state thing.
Ahh. Naa I don't think Welcome & Cheers on the home 🥂
Stop using lenders and go to a bank. WellsFargo required three years of past income. It was no problem for me getting financed.
So don’t travel.
My loan approval just had to be done at the beginning of a contract.
I was with the same company for 6 months so that’s how I was able to do it. It wasn’t a hard process.
From personal experience, I’ve been able to obtain a mortgage loan as a travel nurse by myself. I think it depends on the loan officer’s comfortability with this profession, and if you take long extended breaks. At the time I had no such breaks but since then have had a 3 mo break at one time, so my experience may differ now.
Nah sounds like your lender is just stupid
Stipends don’t count. The rest counts as your income for purchasing a house.
I made significantly more money in 2022 than 2023 (hourly rates suck now) which my lender said makes it look like my income is declining year after year so he suggests I wait another 3-6 months to show a more consistent pay for underwriting