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First-Time Home Buyers Guide: Buying With A New Job

First-Time Home Buyers Guide: Buying With A New Job

Buying Your First Home: Employment Challenges

First-time home buyers often face challenges that don’t affect experienced home buyers.

For example, first-time buyers tend to have less money saved for a home down payment; and, they often carry a collection of student loans and other debt which makes budgeting for a household difficult.

They also face challenges with respect to employment.

First-time home buyers tend to skew younger than the general home-buying demographic with many first-time buyers are just getting started in their careers.

Getting approved for a home loan when you’re new to a job can be both nerve-racking and a challenge. It’s one of the reasons why first-time home buyers account for 1-in-3 homes sold nationwide despite today’s mortgage rates and a wide array of low- and no-downpayment mortgages.

Buyers fear they can’t get approved.

The reality, though, is that you don’t always need years and years of work experience in order to get home loan-approved — you can get approved on just the strength of an offer letter.

This post discusses employment; and, is the next in a series meant to help first-time home buyers buy their first home.

Click to see today’s rates (Jul 1st, 2017)

What Work History Is Required To Get Mortgage-Approved?

When you’re applying for a mortgage loan, your ability to repay is paramount to the lender. Banks won’t make loans to a borrower with no capacity to repay.

This is why employment plays such a large role in the mortgage application process.

Lenders are concerned with the jobs you’ve had in the past, the job(s) you hold today, and the job you may hold in the future. They want to make sure you have a plan for your career — and that your plan is working.

Remember that, in general, a first-time home buyer lacks the employment depth of an experienced home buyer. A first-time home buyer may be fresh out of college or graduate school; or may be just a year or two into its career.

There’s no history of pay raises or promotions with a first-time buyer, which is why mortgage lender place so much emphasis on the prior two years of employment.

In looking at your last two years of employment, lenders can see whether you’re focused on a single industry or job function, which improves your chance for promotion; or whether you’re floating from position to position with no real regard for the future.

For example, if you were a staff accountant in the software industry and changed jobs to be a staff accountant in the medical field, that would considered an acceptable lateral move by a lender.

However, if you left your staff accountant job in the software industry to become a human resources representative in the entertainment industry, that move would not be considered a lateral move — it would be considered a fresh start.

That said, lenders have been known to make exceptions to the “employment history” part of the mortgage application for all sorts of reasons.

In general, your lender just wants to make sure that your household income is stable, and will be ongoing for period of at least three years.

They’re also concerned with your income.

Click to see today’s rates (Jul 1st, 2017)

How Much Income Do I Need To Get Mortgage-Approved?

To get mortgage-approved as a first-time home buyer, it’s not just your job that matters — your income matters, too.

However, because of how mortgage lenders calculate income, first-time home buyers can be at a disadvantage as compared to other buyers of homes.

This is because first-time home buyers don’t often have the work history that an experienced buyer will have. As a result, not all income can be counted toward your mortgage application.

A few common scenarios are listed below. If you have questions about how your particular income would fit into the loan approval process, be sure to ask your lender.

Click to see today’s rates (Jul 1st, 2017)

When your income is an annual salary

When your income is an annual salary, your lender will divide your annual income by 12 months to determine your monthly income. In general, you do not need to show a 2-year history — especially for jobs which require specific training or background.

When your income is an annual salary, plus a bonus

When your income is an annual salary, plus a bonus, your lender will calculate your income in two parts.

First, your lender will divide your annual income by 12 months to determine your monthly income. Then, it will take your bonus and check to make sure it’s been paid to you during the two most recent years.

If the bonus has been paid to you for the past two years, your bonus payments will be added, then divided by 24 months. This amount will be your monthly bonus income.

If the bonus has not been paid to your for the past two years — even if it’s guaranteed and written into your contract — the income cannot be used on your application.

When your income is hourly

When your income is hourly, your lender will average your prior 24 months of income, and will use that figure as your current monthly income.

However, if you’ve received a pay raise, are at the same job/employer, and can demonstrate that your hours have been roughly unchanged, you may be able to apply your current monthly income on your mortgage application.

This calculation is at the lender’s discretion.

If your hours have been erratic, or if you’ve recently changed employers, your income calculation is likely to be affected negatively.

For first-time home buyers with less than two years of work experience, hourly wages are difficult to verify for a lender.

When your income includes overtime pay

When your income includes overtime pay, your lender will add your prior two years of overtime pay, and divide that figure by 24. The quotient will be used as your monthly overtime pay, unless you cannot show two years of overtime pay.

Without a 2-year history of overtime pay, your lender may not allow you to claim it on your mortgage application.

When more than 25% of your income is commission

When you earn more than 25% of your income from commissions, your base income is calculated as the monthly average of your last 24 months of income.

If you have less than 24 months of commissioned income, your commissioned income cannot be used for purposes of a mortgage approval.

Without fewer than 24 months working as a commissioned employee, then, it’s unlikely you’ll be mortgage-approved.

When you are self-employed

When you are self-employed, mortgage lenders will want to see two years of verified income, and will average that total to find your monthly household income.

If you can’t show 24 months of income because your business is too new, it’s unlikely that you’ll be mortgage-approved. However, lenders have been known to make exception on this rule — specifically, for recently self-employed persons who have started a business in a “related field”.

For example, if you worked as a staff accountant at a company and left to start a staff accounting agency which services third-party firms, you may be able to submit just one year’s worth of income in order to be mortgage-approved.

What Are Today’s Mortgage Rates?

When you’re buying a home for the first time, you may not have the work experience of a seasoned buyer, but that doesn’t have to affect your ability to get mortgage loan-approved.

Get today’s live mortgage rates now. Your social security number is not required to get started, and all quotes come with access to your live mortgage credit scores.

Show Me Today’s Rates (Jul 1st, 2017)



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How to Buy a House with Good Feng Shui

Basta Intsik, galing negosyo, dami Pilipino subok  ano gawa nila. Sabit pinya para laki kita, paputok para alis malas. handa tikoy para dikit swerte. Pati salita Intsik gawa na din. Pero dahil ako benta gagandang bahay, akoy hanap kung ano swerteng bahay. Ako hanap galing Feng Shui para tulong aking kustomer…

I’m sorry for the rough language, I’m just trying to make you laugh, but of course its not funny.

Many of my clients are asking me when we go on tripping what house, block, lot is the luckiest that will bring them prosperity. Maybe they think I know those because of my chinita eyes. I know some like choosing  location with morning sun, avoid  cud-de-sac location, and avoiding irregular shape lots. But of course, those things are just logical.

  • We choose morning sun to avoid the extreme heat of the afternoon sun.

  • We avoid cud-e-sac location to avoid headlights in your salas during night.

  • Avoiding irregular shape lots because its hard to have a triangle bedroom with a triangle bed.

When I explain this to them, they taught I will mention energies, light, auras, but I do not have knowledge to those things.

I search on How to Buy a House with a Good Feng Shui, and so far, this is the most easy to understand. Remember this is only a guide. We always need to persevere in order to have harmonious and successful life.

How to Buy a House with Good Feng Shui

Your surroundings can have a huge impact on your life – to the point of affecting your personal happiness, your prosperity, even the opportunities that come to you in your life — thus making your choice of home a very important one. Because most of the important moments in our lives occur in our houses, the house itself becomes more than just four walls where we eat and sleep. That’s why careful consideration is called for if you are thinking about purchasing another home.

So what do you look for when you are considering purchasing a new home? It comes down to two things: the tangible and the intangible. The tangible items include price, location, size, and condition. The intangible includes considerations such as location on a street, how the home is situated on the lot, its relationship to other buildings or homes, how the home flows inside, and situations such as whether the former occupants were ill, in financial trouble, etc.

These are the types of considerations that are taken into account when you want to assess the feng shui of a home. Of course, these are not all of the elements that make up a home with good feng shui, but these are some of the important considerations. Hopefully, this will serve as a guide for helping you select a home that is right for you and your family.

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1. Buy a new house or “successful” house. A new home does not have a history, making these the optimal choice. However, if you are looking at a preowned home, buy one from someone who is moving into a bigger house, got a huge promotion and is moving, or has won the lottery and is buying a villa in Tuscany. Then, you are buying into good feng shui and positive energy.

Houses that are for sale from a divorce, a foreclosure, or where there is a serious illness, or other affliction are not the best choice. To purchase a home such as this can mean that you are buying those problems too. How so? The house might be the problem. Or, there might be a landscape or topographical element causing the difficulty. It’s best to avoid these kinds of homes.

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2. Buy high or level ground. Houses that are situated on the side of a hill or where the back slopes away from the house are “losing ground.” Better also to buy a house where the lot is wider at the back than the front. Also, try to buy a regular-shaped lot. Square or rectangle shaped lots are especially good.

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3. The inside story. Make sure bedrooms are not over a garage, kitchen, laundry room, or open space below. Also be sure there are no bathrooms over a dining area or kitchen. This can cause illness in the house. Look at the arrangement of bedrooms to bathrooms so that beds won’t share a common wall with a toilet.

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4. Get support. It’s best for land to either be level or have a rise at the back of the house. Land that falls away at the back of the house creates loss and difficulties getting recognition and promotion. If the house has a building or a hill at its back, then it is supported.

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5. Open up. If the house faces open land or has a wide, open area in front of it, then it has the “bright hall effect.” This is extremely auspicious.

Make sure the house is not overwhelmed by landscaping. If there is a tree too close to the house, especially if it is in line with the front door, this is not good and will prevent opportunities for the homeowner. Consider removing the tree. Likewise, if plants and shrubs look like they’re taking over the house (either planted too closely or growing on the walls), consider removing these as well and replanting elsewhere. A house should not be smothered by the landscaping.

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6. Look both ways before buying. What’s to the right and left of the house? Is there a house or building that seems to impose itself on this house? If the house or the land on your left is higher, this is good, as it is tapping the dragon energy. It is even more fortunate if the house to your left (as you look out of the house) is in the East. Is there a house with a pointed roof, a corner of the home pointed at your front door, etc., or aimed at the house?

Be sure to look at the approach to the house. Is it in a cul-de-sac? If the road ends at a straight line to the house, this is not good. Also, houses with a road behind and in front of the house suffer, and corrections can’t be made for these. Long straight driveways that end at the house, or roads that stop at the house, are another problem, but can be corrected with plants or mirrors.

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7. What’s the situation? The house should be situated on the lot correctly, which means it should not be set back behind the half-way line of the lot. It is better to sit a little forward in the lot than too far back.

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8. What is in the Southwest and Northwest? These are the two most important directions in a home. The Northwest should never have an open flame, such as from a gas stove or fireplace. If there is one there, move on to another house. This is feng shui taboo. To have a home such as this is to invite severe difficulties for the man of the house.

Also, look at the SW; this is the position of the woman or mother of the house. If there is a storeroom or bathroom located here, there could be marital difficulties and unhappiness. Consult with a feng shui practitioner about this if you just love the house, but it has trouble in the SW corner.

Good luck with the purchase of your new home!



Author’s Bio:
Kathryn Weber is a certified Master Pracititioner in Feng Shui and is the publisher of a FREE weekly feng shui ezine for helping readers improve their quality of life with easy feng shui tips and ideas.

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Top 7 Most Wanted House and Lot in Rizal 2017

Because of the crowded and stressful life in the city, people are now looking for a place where they can easily go to work while living in serene community. People now are starting to look for homes accessible to Metro Manila, and Rizal became one of the best options for them. Not only to its proximity to cities, the home scenic view, tourist spots, lower cost of living and province’ fast progression investing in Rizal turns to be attractive. For most, Rizal is a paradise, a haven, an escape from long hours of work.

But with a hundred real estate projects present in the province, what can be the best option for a first-time buyer have? What projects are the most wanted by home buyers in Rizal?

A numbered of trusted real estate practitioner who handled various properties in the province was ask “If they will buy a property in Rizal, what will be their pick?”

What these sellers will buy?

Are you curious?

I am curious too. So here is the TOP 7 MOST WANTED HOUSE AND LOT IN RIZAL 2017!


Bria La Hacienda is located in Teresa, Rizal. What made her to 7th spot is because of its proximity to Antipolo City. The accessibility to public transportation gives convenience to settlers going to work. Aside to this, its flexible payment offered by Vista Land made housing loan easy. To learn more about Bria La Hacienda, click this link:

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Casas Aurora takes the number 6 spot because of its creative home design. Bedrooms are like meant for prince and princess where you can feel morning breeze on balcony while sipping your coffee. Affordable price also make this property attractive specially their down payment scheme. Learn more about this property, visit :

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Number 5: Eastview Homes 3

Eastview Homes located in Antipolo City. It is the only preselling property that can deliver your house as fast as 6 months!. Its modern design, single attached house and lot made this project attractive to buyers specially OFW’s. The Metroline view is a when you avail the project. Learn more about this property? visit:

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Number 4: Manna Estates

Manna Estates is the newest project of Filinvest. The developer takes the pride having the only bungalow house and lot in Rizal. Every house model gave importance on owner’s personal space thus the project offering bungalows and duplexes. The project was launch last October 2016 but until now it is not open for sale due to late release of papers. But inspite of delays, more and more people are waiting for this project and by the time its available for sale, this will surely sell like pancakes. To know more about this project, visit:

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Number 3: Cottonwoods

Cottonwoods is a prime project by Vistaland. The main pride of the project is its community; well-secured, and serene. Add to that the creative layouts and floor plans that their houses have. There are limited units available in cotton woods, to know more about this, kindly email us at

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Number 2: Lumina Eastridge

Another affordable house and lot project by Vista Land located in Binangonan. Aside to its accessibility to roads and house durability. What attracts buyers to purchase Lumina Eastridge is its location near to Thunderbird Resort making this a sound investment. Plus its breath-taking view of Laguna de bay will made you lay your reservation fee. To know more about this, visit:

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Number 1: Ridgepoint

The number 1 property for Status confused people. Truly, this property will never judge you. Whether you are single, married, separated, legally separated, don’t have enough documents, or simply want to have a house and lot without worrying too much on documents, Ridgepoint is for you. Their rates are close to PAGIBIG and Banks making you agreed to do In-house financing with them. For more information, visit this link:

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Please take note that this is only our own initiative survey. Thank you.

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How to calculate your feng shui kua number?

How to calculate your feng shui kua number?

Lets say you were born in dec 24 1983. So you need to

Simply add up the last two digits of the year in which you were born. So 8+3=11.
Subtract 1 from 11 if you were born before the chinese new year in 1983. Since you were born after the chinese new year in 1983 (which happens to be 13th feb 1983 ) so you will skip this step.
Now you always need a single digit, so add 1+1 = 2.
If you are a male simply subtract it from 10. So 10 – 2 = 8. Your Kua no. is 8 For males born after 2000, instead of deducting from 10, deduct from 9

If you are a female you just add 5 to it. So 5 + 2 = 7. Your kua no. is 7 For females born after 2000, instead of adding 5, add 6.

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That Planner, is it Really Worth it?

Part of a real estate salesperson duty here in the Philippines is to have a license from Professional Regulatory Commission (PRC) and Housing and Land Use Regulatory Board (HLURB). So, before 2016 ends, I manage this things up for me to serve my clients who wants to buy a property here in the Philippines.

As I am into the process, I need to photocopy some documents before proceeding to next steps. Government offices here have No Noon Breaks policy, but the photocopy operator have. I decided to wait on the near-by Coffee Shop in HLURB Office to let the time pass.

I order regular frap and chocolate doughnut then the Barista ask me, ” Are you collecting stickers?”

Puzzled on what she’s saying cause I am not SB fan, so I replied. ” Stickers for what?”

“For a free planner, Do you want to have one?”
“Sure” of course, who can say no when you heard FREE.

Then she handled me a tiny piece of artistic cardboard, with a tiny red sticker.


I want to say that my schedule for the whole 2017 cannot fit to this little cardboard, but of course that’s only a joke.

Its like a tiny magical paper that when you do what it says, you will get the limited edition and most wanted planner for 2017.

I heard from my acquaintances who have this planners for the past years, they never dare to write something on this. Even their birth date. Wow.

It says I need to collect 18 Stickers to get the planner. That means, its 18 Coffees. But it has to be done not later January 8, 2017.
Coffee price range from Php 145 to Php 200 and up. I need to spend Php 2,600 just to get the planner.

Do I drink 18 Coffees?


I think its not worth it to spend Php 2,600 for a planner. There are Php 500 worth of planner found in book stores.

I am just wondering what it looks like.

Why some are willing to palpitate and harass friends to give stickers for this planner.

I saw one and its really beautiful.

I saw it in OLX, they are selling it for only Php 1,500- it says its RUSH.

Do I bought it?


Because its not worth it.

A typical employee is earning Php 800 a day or Php100/hour. I means, your coffee is worth more than an hour of yours. You are sick, bored and constantly complain about your job, but you never realize if your hard-earned money was spent on the right stuff.

What is worth paying for?
For stuff that you will never neglect you spend the money with
For stuff that you feel blessed not pain
For stuff that’s for your improvement not for what others will say.
For stuff that your future self will be thankful for.

There is nothing wrong on having Php 2,800 planner if you really want to. Its the intention that matters. Do you really plan for 2017 that is why you need a planner? Or do you want to impress others?