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This wont be happening for about another 3-1/2 years but I am already trying to think ahead and have some concern. We currently live in Virginia and have been in our house for 3 years. This was our first home and I remember that when we got the mortgage they were concerned with income and job history. I had just changed careers from working at a credit union to becoming a designer at a local shipyard. My husband's job history was great and I had been at my job for almost a year so we didnt have a problem getting a mortgage, our good credit history also helped.
However, my husband and I are both going to school to get our IT degrees. He will graduate with his Bachelors degree in summer '09 and will then strongly pursue getting a job in that field (he already had an interview at his current employer that said the only thing holding him back is no B.S. in IT). We are planning on him being able to gain experience while going to school for his Masters. He will get that in the Spring of 2011. I am not scheduled to graduate until the end of 2010 with my bachelors degree in IT. My concern is, if I try to get an IT job before we move in June of 2011, what will happen when they look at my job history to get another mortgage for a house in WI? I wont have been in the field very long or if even at all...and that concerns me.
Now, I do have an interview on Monday at a job agency to look at any jobs out there that are entry level IT that I could possibly get into. I'm just going to look and see what my options are, if any. I am currently getting tuition reimbursement from my employer and hate to give that up, because if my possible new employer doesnt have tuition reimbursement for my current school, I'll have to take out student loans and go into debt approx $40,000. That is alot of money but in this scenario, do I worry about experience first or debt? Usually I would say debt but I really need this experience before we move so that I can get a good job and we can get a mortgage with both of our incomes.
It is my understanding that your schooling in a field counts towards working in that field. Example-when I finished rad tech school which was 2 years i was able to get a job and apply for a mortgage right away as my two years of school counted as "time in the field".
Focus on your current day concerns such as loans, education, & just life.
Homes & mortgages are always going to be available.
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