Can I get a mortgage loan while on Washington ESD unemployment benefits?
I've been on unemployment for about 2 months now and my claim is active with Washington ESD. I found a house I really want to buy but I'm not sure if lenders will approve me for a mortgage while I'm receiving UI benefits. Has anyone here successfully gotten a home loan while on unemployment? My benefits are consistent and I have some savings for a down payment, but I don't know if banks even consider unemployment income. Any advice would be appreciated.
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Anastasia Sokolov
Most traditional lenders won't approve you for a mortgage while on unemployment benefits because UI is considered temporary income. They usually want to see stable employment for at least 2 years.
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Diego Rojas
•That's what I was afraid of. Do you know if there are any exceptions or alternative loan programs?
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Anastasia Sokolov
•There might be some non-traditional lenders but the interest rates would probably be much higher. You'd be better off waiting until you find steady work again.
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StarSeeker
I looked into this when I was on unemployment last year. The issue is that Washington ESD benefits have a maximum duration, so lenders see it as unstable income that will end. Most require proof of employment and steady income for mortgage approval.
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Diego Rojas
•How long did you wait before applying for a mortgage after finding work again?
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StarSeeker
•I waited about 6 months after starting my new job. Most lenders want to see consistent paystubs and employment history before they'll approve you.
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Sean O'Donnell
You might want to focus on getting back to work first before house hunting. Have you been keeping up with your job search requirements for Washington ESD? If you're having trouble reaching them about work search documentation, I used claimyr.com recently and it helped me get through to an actual agent quickly. They have a video demo at https://youtu.be/7DieNd3C7zQ that shows how it works.
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Diego Rojas
•Yes I'm doing my job searches as required. Thanks for the tip about claimyr - I've been having trouble getting through to Washington ESD when I have questions about my claim.
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Zara Ahmed
•Never heard of claimyr before but if it helps get through to Washington ESD faster that could be useful. The phone lines are always busy.
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Luca Esposito
Unfortunately unemployment benefits aren't considered qualifying income for most mortgages. Even if you have other income sources, lenders typically require employment verification and won't count UI benefits toward your debt-to-income ratio calculations.
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Diego Rojas
•That makes sense from their perspective I guess. Do you know if having a co-signer who's employed would help?
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Luca Esposito
•A co-signer with stable income could definitely help, but they'd be fully responsible for the loan if you default. Make sure they understand the risks involved.
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Nia Thompson
Had this same situation happen to me two years ago. No bank would touch me while I was on unemployment, even though I was getting my weekly claims consistently from Washington ESD. Had to wait until I got hired again.
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Diego Rojas
•How long were you unemployed before finding work again?
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Nia Thompson
•About 4 months total. The job market was tough but I eventually found something. Just make sure you're documenting all your job search activities properly for Washington ESD.
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Mateo Rodriguez
Some FHA loans might be more flexible but even they usually require employment income. You could talk to a mortgage broker to see what options exist, but don't get your hopes up too high.
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Diego Rojas
•I'll look into FHA loans. Do you know if they have different requirements than conventional mortgages?
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Mateo Rodriguez
•FHA loans have lower down payment requirements and more flexible credit standards, but they still want to see stable income. Worth checking though.
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StarSeeker
Another thing to consider is that if you're spending time house hunting, make sure it's not interfering with your job search activities. Washington ESD requires that you be actively seeking work and available for employment.
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Diego Rojas
•Good point. I'm still applying to jobs and following all the requirements. Just thought I'd explore the mortgage option while I have some time.
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GalaxyGuardian
•Yeah make sure you're logging all your job search activities properly. I had a friend who got in trouble for not documenting everything correctly.
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Sean O'Donnell
If you do need to contact Washington ESD about your claim status or job search requirements, that claimyr service I mentioned earlier really does work well. I was skeptical at first but it saved me hours of trying to call them directly.
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Aisha Abdullah
•How much does claimyr cost to use?
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Sean O'Donnell
•I'd rather not discuss pricing here but it was worth it for me to avoid the frustration of busy phone lines. Check their website for current rates.
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Ethan Wilson
Have you considered waiting until you exhaust your unemployment benefits and then applying for a mortgage? Some lenders might view that differently than active UI receipt.
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Diego Rojas
•I don't think that would help since I'd have no income at all at that point. I need to find work first before applying for any loans.
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Ethan Wilson
•True, that doesn't make much sense. You definitely need stable employment income for mortgage approval.
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Yuki Tanaka
Focus on your job search first. The housing market isn't going anywhere and you'll be in a much better position to buy once you're employed again. Plus you'll have more negotiating power with sellers.
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Diego Rojas
•You're probably right. I guess I was just excited about this particular house but it makes sense to wait.
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Yuki Tanaka
•There will be other houses. Getting your employment situation stable should be the priority right now.
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Carmen Diaz
I work in real estate and can confirm that most lenders won't approve mortgages for people on unemployment benefits. The income is too uncertain and temporary from their perspective.
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Diego Rojas
•Thanks for the professional insight. Do you have any advice for someone in my situation?
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Carmen Diaz
•Get back to work first, then wait a few months to establish employment history. Save up more for a down payment in the meantime.
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Andre Laurent
This is why the unemployment system is so frustrating - you can't even plan for major life purchases while you're between jobs. The benefits barely cover basic expenses anyway.
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AstroAce
•I agree the benefits aren't enough but lenders have to protect themselves too. Unemployment is meant to be temporary support, not long-term income replacement.
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Andre Laurent
•I get that but it still makes life planning difficult when you're already stressed about finding work.
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Zara Ahmed
Maybe look into rent-to-own options? Though those usually have their own issues and higher costs in the long run.
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Diego Rojas
•I've heard rent-to-own can be risky. Probably better to wait for traditional financing.
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Zara Ahmed
•Yeah they're not ideal but might be an option if you really want to get into a house sooner. Do your research though.
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Zoe Kyriakidou
Have you talked to your bank about your specific situation? Sometimes they have programs or advice that aren't widely advertised.
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Diego Rojas
•Not yet but that's a good idea. I'll call them and see what they say about my options.
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Zoe Kyriakidou
•Definitely worth a conversation. They might have suggestions or know about programs I'm not aware of.
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Jamal Brown
If you're having trouble with Washington ESD phone lines when you need to verify your claim status or job search activities, I've had good luck with claimyr.com. Much easier than trying to call directly.
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Diego Rojas
•Thanks, a couple people have mentioned that service. I'll check it out if I need to contact Washington ESD about my claim.
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Mei Zhang
•Yeah claimyr seems to come up a lot in these threads. Must be helpful for getting through to agents.
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Liam McConnell
The reality is that unemployment benefits are considered temporary income by lenders. Even if you have perfect credit and savings, most won't approve you. Focus on the job search instead.
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Diego Rojas
•I'm starting to understand that's the case. Thanks for being direct about it.
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Liam McConnell
•Sorry to be the bearer of bad news but it's better to know upfront than waste time on applications that won't go anywhere.
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Amara Oluwaseyi
Document everything properly for Washington ESD while you're job hunting. Make sure your work search log is complete and you're meeting all requirements so your benefits don't get interrupted.
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Diego Rojas
•Yes I'm keeping track of all my job applications and interviews. Don't want any issues with my claim.
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Amara Oluwaseyi
•Good. The last thing you want is to have your benefits delayed or denied over documentation issues.
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CosmicCaptain
I was in a similar situation last year. No lender would approve me while on unemployment. Had to wait until I found work and had been employed for several months before I could get a mortgage.
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Diego Rojas
•How long after starting work did you wait before applying for a mortgage?
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CosmicCaptain
•About 6 months to establish employment history. Some lenders wanted a full year but I found one that accepted 6 months of paystubs.
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Giovanni Rossi
The housing market will still be there when you get back to work. Use this time to save up more for a down payment and research different neighborhoods.
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Diego Rojas
•That's good advice. I can use the time to be more prepared when I am ready to buy.
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Giovanni Rossi
•Exactly. Plus having more savings will give you better loan terms when you do apply.
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Fatima Al-Maktoum
Make sure you understand all the Washington ESD requirements while you're job hunting. Missing any requirements could jeopardize your benefits.
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Diego Rojas
•I'm trying to stay on top of everything but sometimes the requirements are confusing. That's why I might need to contact them directly.
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Fatima Al-Maktoum
•Yeah their website isn't always clear. If you need to call them, that claimyr service other people mentioned might save you time on hold.
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