UPS drivers and home loans?

[allahuakbar]

Mortgages are a credit and asset game now. No one cares where ya work. It’s are the checks always coming in and is the applicant good with their spending.
Unrelated:When I got my first apartment I got the house over a family needing a home because the landlord knew I’d always have a paycheck lol

 

[Buffet Master]

I see a whole lot of you have no idea how strenuous hooking up airlines is. Some places we have to walk up flights of steps to get to dispatch. Yuns acting like there ain't no hardships in Feeder.

 

[eats packages]

Mortgages are a credit and asset game now. No one cares where ya work. It’s are the checks always coming in and is the applicant good with their spending.
Unrelated:When I got my first apartment I got the house over a family needing a home because the landlord knew I’d always have a paycheck lol

It's such a cluster. Multiple years of constructed savings and paychecks and yet the final say is the fico score which I have to wait 5 more months with a starter cc and a phone bill to appreciate 60 points. Completely useless for scoring younger people.

 

[eats packages]

Your standard run-of-the mill detached house takes seriously strong finances these days. Attached housing construction is way up. I'd strongly suggest getting one or more units in these than to play everyone else's game and fight over a suburban home.

 

[upser2020]

I just bought a house as a "part time" loader/unloader they could only use my base hours not my overtime because Ive worked here less than two years(they couldn't do anything until I had at least one year in). I've also spent a lot of effort getting my credit score from 520 to 720 in the past 18 months. It's doable just takes patience and effort. I actually got pre approved before my year was up by a different bank but they pulled the rug out two weeks before closing(after the offer inspection appraisal etc). But I have a house now

 

[oldngray]

I just bought a house as a "part time" loader/unloader they could only use my base hours not my overtime because Ive worked here less than two years(they couldn't do anything until I had at least one year in). I've also spent a lot of effort getting my credit score from 520 to 720 in the past 18 months. It's doable just takes patience and effort. I actually got pre approved before my year was up by a different bank but they pulled the rug out two weeks before closing(after the offer inspection appraisal etc). But I have a house now

It is hard to get a loan when you are a part timer even though you can make more than other full time jobs. They look on part time as "temporary" jobs.

 

[NAHimGOOD]

The (usually) messed up sleep schedule wreaks havoc on your body as well.

Pro tip...

Never sleep.

Then when you get an occasional few hours in.

Your body rewards you with gains...

 

[Zowert]

Just started driving but already want to jump into home buying?

Might want to put some serious thought into that one.

At least get yourself through the first 2 lean years first

This. Wait until you hit top rate so you can start putting some serious money away. Also, by then you’ll know if you’re in this for the long haul. I’ve seen quite a few guys make it to their second year and realize this isn’t the job for them. Even if you’re absolutely certain you want to do this for the rest of your (working) life, I’d still wait till your income is at its peak.

 

[GenericUsername]

This. Wait until you hit top rate so you can start putting some serious money away. Also, by then you’ll know if you’re in this for the long haul. I’ve seen quite a few guys make it to their second year and realize this isn’t the job for them. Even if you’re absolutely certain you want to do this for the rest of your (working) life, I’d still wait till your income is at its peak.

I hit top rate next year. That $6ish increase (I'm red-circled) equals $240 a week extra in just normal hours worked, nevermind the overtime. I'm actually pretty terrified of buying a house as I'm not a hands-on person at all, minus the yard work. Need to change a light fixture - pay someone..plumbing? Nope, paying someone. Renting has had its benefits over the years. My only question is how much should I be saving up? 20%? 30%?

 

[Netsua 3:16]

Just started driving but already want to jump into home buying?

Might want to put some serious thought into that one.

At least get yourself through the first 2 lean years first

Year 3 I pulled the trigger. Perfect timing. If you can’t have financial security as a homeowner then don’t buy. Save until you can cover the mortgage for at least a year.
Of course, I was lucky and had a mother in law to rent out to save money when I first started. Not everybody is that lucky

 

[Jones]

I hit top rate next year. That $6ish increase (I'm red-circled) equals $240 a week extra in just normal hours worked, nevermind the overtime. I'm actually pretty terrified of buying a house as I'm not a hands-on person at all, minus the yard work. Need to change a light fixture - pay someone..plumbing? Nope, paying someone. Renting has had its benefits over the years. My only question is how much should I be saving up? 20%? 30%?

Just don't get sucked into buying more house than you really need. I'd see these guys with 6k/month mortgages, that's like living with a gun to your head imho. As long as you can easily make your mortgage payment on a week's pay working 40 hour weeks you'll have plenty of money to pay the electrician and the plumber. Save your money so you buy a nice place out in the country after you put UPS in the rear view mirror.

 

[What'dyabringmetoday???]

I was still a cover driver hardly cracking 30 hours a week when I bought my house. The bank didn’t like the numbers on the paychecks until one of the lenders saw who was signing the checks. Took a little time but got approved for 450k loan after I sent them more paystubs that covered the most recent peak season.

If you in fact borrowed that amount, it must be a nice payment.

 

[What'dyabringmetoday???]

Year 3 I pulled the trigger. Perfect timing. If you can’t have financial security as a homeowner then don’t buy. Save until you can cover the mortgage for at least a year.
Of course, I was lucky and had a mother in law to rent out to save money when I first started. Not everybody is that lucky

I would never be able to do that. You must be patient.

 

[GenericUsername]

Just don't get sucked into buying more house than you really need. I'd see these guys with 6k/month mortgages, that's like living with a gun to your head imho. As long as you can easily make your mortgage payment on a week's pay working 40 hour weeks you'll have plenty of money to pay the electrician and the plumber. Save your money so you buy a nice place out in the country after you put UPS in the rear view mirror.

I grew up in the country. It's not for me.

 

[Jones]

I grew up in the country. It's not for me.

Just a metaphor, I'm not really interested in country living either.

 

[Netsua 3:16]

I would never be able to do that. You must be patient.

Being poor is motivating. When I started at UPS I was 26 and flat broke. was embarrassing. I ate the same crap every single day packing my own lunch and cooking my own dinners. Quit drinking, played lots of video games, lots of golf at the cheap par 3 course down the road (20$ for all day). Got with my awesome girlfriend. It’s not like I didn’t have fun, I just stuck to the friend’ing plan. Every single day. I wrote it on my whiteboard and looked at it, EVERY SINGLE DAY
When I got annoyed at work, STICK TO THE PLAN

 

[What'dyabringmetoday???]

Being poor is motivating. When I started at UPS I was 26 and flat broke. was embarrassing. I ate the same crap every single day packing my own lunch and cooking my own dinners. Quit drinking, played lots of video games, lots of golf at the cheap par 3 course down the road (20$ for all day). Got with my awesome girlfriend. It’s not like I didn’t have fun, I just stuck to the friend’ing plan. Every single day. I wrote it on my whiteboard and looked at it, EVERY SINGLE DAY
When I got annoyed at work, STICK TO THE PLAN

I meant the mother-in-law part.

 

[meritocracy]

Hey this is kind of random. I just started driving a little while back and have been wanting to move. I was wondering if there were some type of program that UPS has or if there is a specific bank/website that tailors to UPS employees.

Yeah. The insane wage progression and job stability provided by your union contract. Put some time in and hit top rate and you'll be able to make a great down payment and qualify for a nice place. And if you don't already, start paying union dues.

 

[burrheadd]

It's such a cluster. Multiple years of constructed savings and paychecks and yet the final say is the fico score which I have to wait 5 more months with a starter cc and a phone bill to appreciate 60 points. Completely useless for scoring younger people.

Why’s your score so low? you skip out on some bills?

 

[IVE GOTTA PACKAGE 4U]

Why’s your score so low? you skip out on some bills?

Having no credit is sometimes worse than having bad credit