Financial Planning Tips for the College Graduate

Video Transcript

"Hello! My name is Brett Staggs and on behalf of Expert Village, I am going to show you how to organize your income and assets for first time home buyers. In looking to get your first home loan, a big misconception is that if you've just graduated from college that you don't really stand a chance in purchasing a home. That is false. If you've studied accounting let's say and then you get a job out of college and you work there for a week even, the time that you get your first pay stub from that job if it is what you studied in college, you are solid gold because the bank will look at what you studied in college and where you are working now. Like I said even if you haven't been there very long, they will count your education as part of the two years. That is the big number with employment. Banks want to see two years of constant employment with very little gaps and if there is a gap, you simply write a letter explaining what was going on in your life that you weren't working. Generally they are pretty understanding about gaps in employment. But recent graduate working a job that you studied for in school, you've got all the documentation that you need. Just say copy of your diploma and your first pay stub at your new job, you will be sitting pretty. "