Can I use an employment offer letter to get a mortgage?  You can use an employment offer letter to qualify for a mortgage if you are a recent college graduate or a relocating W-2 employee and your start date is within 90 days of the mortgage closing date.    If you have accepted a new job offer, you can use your expected income to meet the requirements. However, in order to use your offer letter as income, the offer must be a non-contingent offer or contract. This offer or contract must be accepted and signed by both you and the new employer.  Additionally, the property must be your primary residence (no investment properties), and must be a detached single family home, townhome or condominium (no multi-family homes).

Nevertheless, the problem most recent graduates run into is a lack of reserves.   Since the majority of recent graduates have been studying and not saving,  Many don't have all of the cash needed for the down payment along with the required reserves.   Not all lenders make these types of loans; and those that do want to see reserves.  Typically, they want minimum of 3 months  to include your principal and interest, taxes and insurance depending on your start date.  Therefore, if you are a recent law school, medical school, business school or other type of graduate with a signed employment offer or contract and enough reserves, you may be eligible to purchase.