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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127684  
Subject: Re: When can I qualify for a loan? Date: 4/25/2013 2:19 PM
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No; they've been around for over 20 years now, and they've recently been growing a lot.

Okay, that is a little less scary.

That project is government funding, but the company also has a good amount of commercial business (I don't know the ratio), and even the type of gov't funding they get is probably reasonably safe all told.

Well, that's still scary, at least to me. I mean, I would have thought that air traffic controllers were pretty important - after all, who wants planes to crash into each other? So, I would have thought that they were safe from funding cuts - think again. Now, I realize all the politics involved in that, but, you know what, government is, by definition, subject to politics. And if research funding gets cut, even companies with lots of other projects and opportunities may not have enough jobs of the right type available for everyone.

I would not let this keep me from buying a house at all. I would let it keep me from buying a house until I had a fully funded e-fund, other than my Roth. If that meant that I wasn't able to put down a full 10%, because I was keeping money in my e-fund, but I could still qualify for a mortgage by putting down 3% or 5%, I'd be okay with that.

My point is - you don't want to find yourself cash poor from buying the house if something really bad happens a few months later.

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