Gibbs Realty Inc. | Holden, MA Real Estate, Rutland, MA Real Estate, Paxton, MA Real Estat


There are so many factors that go into buying a home. How much money do you have saved up? What is your debt amount? Hw much money do you make each month? Can you afford the neighborhood that you’d like to live in? All of these questions are swirling around the minds of all first-time homebuyers. Did you know that how long you have been at a job is just as important as your income as a factor in getting approved for a mortgage? 


Your ability to repay is why the lender is looking at so many different numbers and factors about your financial situation. Employment overall plays a large stake in the mortgage application. Lenders will look at your past employment history along with the job that your currently have. They are also concerned with your future employment status. Your lender will get an idea of your overall plan for your career and employment through looking at your history. 


As a first-time homebuyer, you most likely don’t have the employment history of more seasoned homebuyers. Generally, most people who are buying a home for the first time are pretty young in their careers. As a rule of thumb, lenders will look at your employment history over the past two years. The lender wants to see your industry focus. Maybe you have stuck with one career direction, or maybe you have hopped around a bunch. As a hint, jumping around from job to job and field to field doesn’t look very good to mortgage lenders. Job floaters tend to appear as if they have no plans for the future. 


Good Career Moves


Staying a software engineer, but moving from the medical industry to the financial industry is an acceptable and smart move in the eyes of lenders. Yet, leaving your stable job in accounting to pursue a career in acting would not be looked upon favorably in the eyes of a mortgage lender.


It doesn’t matter how much money you have saved up, often, without employment history, a lender may not consider you as a dependable buyer. Your lender wants to see that your income is stable for a period of at least three year’s time.


Income Matters 


You won’t have the same work history as a first time homebuyer as you would if you were a bit more seasoned. When lenders look at your income history, not having a lot of work history can be a detriment to many factors. If your income is an annual salary, for example, your lender will divide that salary by 12 in order to get a monthly income. If you haven’t been at the job for a full year or took a pay cut during times of training, those numbers will be affected.


For hourly employees, overtime may be a problem as it may not be factored in with the equation if there isn’t a history of at least two years on the job. 


While it isn’t impossible to buy a home with a short employment history, it’s advisable to wait until you have some significant time under your belt before you dive into the home buying process.


This Single-Family in Douglas, MA recently sold for $287,000. This Split Entry style home was sold by Office Gibbs - Gibbs Realty Inc..


6 Pilgrim Ct, Douglas, MA 01516

Single-Family

$289,900
Price
$287,000
Sale Price

6
Rooms
3
Beds
1
Baths
Beautiful 3 bedroom, well cared for Split Entry home at the end of a cul-de-sac. Entertain your guests and family in the open concept living, dining and kitchen along with a finished lower level which is great for entertaining. Walkout from the lower level to a stamped concrete patio and enjoy your private back yard. Updates include cathedral with skylights, ceramic bath, vinyl siding and fresh neutral paint colors. Welcome home!

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This Single-Family in Rutland, MA recently sold for $278,500. This Cape style home was sold by Office Gibbs - Gibbs Realty Inc..


50 Pommogussett, Rutland, MA 01543

Single-Family

$269,900
Price
$278,500
Sale Price

8
Rooms
4
Beds
2/1
Full/Half Baths
If you are looking for a one-of-a-kind find in the Wachusett area, look no further. This stylishly updated and immaculate Cape has it all! In the main house you'll find 3 bedrooms, 1.5 bathrooms, and a spacious kitchen that opens up to a formal dining rm complete with a built-in china cabinet. Other amenities include hardwood floors upstairs and down, a mudroom with ample storage, first floor laundry, 2-car attached garage, horseshoe driveway, substantial shed, and a newly added stone walkway. What truly sets this home apart is a completely upgraded guest suite featuring luxurious full bath, bedroom, living rm, and a composite deck that overlooks the picturesque backyard set on over 2 acres. Updates have all been made- roof, furnace, energy eff. hybrid hot water heater, windows, siding, and gutters. Two doors down from the Central MA Rail trail, and a short walk to the center of town, this property is nothing short of remarkable. Welcome Home!

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This Single-Family in Worcester, MA recently sold for $227,500. This Cape style home was sold by Office Gibbs - Gibbs Realty Inc..


9 Hunnewell Rd, Worcester, MA 01606

Single-Family

$230,000
Price
$227,500
Sale Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Charming cape, close to the W. Boylston and Holden line, with easy access to 190, 290 and 495 making it a great commuter location. On the first floor you have a cabinet packed kitchen and plenty of counter space for all your food prepping needs. Dining room features built in cabinets and archways. The flooring throughout is hardwood or tile!! On the second floor you have two spacious bedrooms. You will not find odd angled ceilings because there is a full dormer that had been added to the back of the home, giving you the extra space and large amount of head room. Updates include the driveway, electrical , full dormer, and oil tank to name a few. The outside features a back deck and a sought after Farmer's Porch. If you are looking for a home in Worcester this is one you don't want to miss!

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This updated and spacious Cape, located in a commuter friendly neighborhood setting is waiting for you! The updated cherry cabinet packed Kitchen offering Wolfe and Sub-Zero appliances, wide trim moldings, granite counters and custom tile backsplash flows seemlessly to the dining area and sunken Family Room with vaulted ceiling and raised hearth fireplace, just ideal for gatherings and entertaining. Your living space continues on the first floor, all with hardwoods, including Living Room with more crown moldings, Master with access to rear deck, second Bedroom and heated Sun Room! Expand your living options to the 2nd floor with 2 bedrooms, sitting room or office and upper level deck. Looking for a workshop - it's here too with walk out access to yard. Not a home to be missed. Welcome Home!

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