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Old 11-03-2010, 07:06 PM
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Abigail Abigail is offline
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Default Help With Advice Please!

This is a little off topic, maybe, but I need advice. I need to find a way (by tomorrow) to figure out how to classify a Nanny job as an Administrative job.(we're trying to get approved for a home loan, but I took a year off work and now we can't get what we need in a house until I'm working full-time. We can get the loan in 6 months if it's Administrative--my degree or else I need to wait 2 years like that standard time period in any other career)

So, my mortgage lender said I need to be working full time in an Administrative job to get the loan sooner, but I would much rather provide child care full time and find a way that connects the two jobs together.

Many jobs that nanny's, household manager's, and child care provider's do is Administrative work. So, if you can give me ANY advice how to persuade my mortgage lender tomorrow that the position I want to take is Administrative even though it's for one family in their home. Maybe I need to call myself a household manager instead of Nanny? What list of tasks can I create that relate administrative to child care? Thank you so much for any help!
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Old 11-04-2010, 08:32 AM
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momofboys momofboys is offline
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Quote:
Originally Posted by Abigail View Post
This is a little off topic, maybe, but I need advice. I need to find a way (by tomorrow) to figure out how to classify a Nanny job as an Administrative job.(we're trying to get approved for a home loan, but I took a year off work and now we can't get what we need in a house until I'm working full-time. We can get the loan in 6 months if it's Administrative--my degree or else I need to wait 2 years like that standard time period in any other career)

So, my mortgage lender said I need to be working full time in an Administrative job to get the loan sooner, but I would much rather provide child care full time and find a way that connects the two jobs together.

Many jobs that nanny's, household manager's, and child care provider's do is Administrative work. So, if you can give me ANY advice how to persuade my mortgage lender tomorrow that the position I want to take is Administrative even though it's for one family in their home. Maybe I need to call myself a household manager instead of Nanny? What list of tasks can I create that relate administrative to child care? Thank you so much for any help!
Can I ask what difference it makes what kind of job it is? So long as you are bringing in an adequate amount of income that would allow you to qualify for a loan why does it matter so long as you have an income? I guess this just confuses me, lol! In terms of administrative duties though I'm guessing you keep records for the family regarding activities that take place over the course of a day, maybe you make calls to set up appointments for the family (doctor's appt. dentist, dinner reservations, playdates, oil changes). You assume household duties such as taking care of the family's clothing (laundry)& attending to the family's pet, cleaning & straightening up after the family. I'm not sure if this is any help at all. But I hope you are able to figure something out. I would definitely say though if you do the above tasks you certainly are taking on a household manager type job.
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Old 11-04-2010, 04:30 PM
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Since I took off work all last year and my daycare job is on-call, I can't use my income at all because my hours are not guaranteed and my recently work history is bad since I took off time after graduating college to relax.

We can get a loan no matter what after I work somewhere for 2 years because those are the new rules for getting approved on a home loan (with credit scores, etc. too) or else the mortgage lender will pull some strings if I get a full-time job in the administrative field since I recently graduated with a degree in that field of work. I'm just trying to think how I could word it so I can get a loan in six months vs. another 2 years while doing what I love. LOL

In the end, it's just a waiting game. We could get a house now, but my husband and I don't want a "starter home" we want a larger home from the start so I can open my own Family Child Care.
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Old 11-04-2010, 04:44 PM
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If you are buying from the builder (not a individual in a home), you might be able to get them to rent to buy for the two years, with a contract. My DD is PT and since she is self employed and the main income, that is what they had to do. They just bought the house this summer.
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Old 11-05-2010, 06:12 AM
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I woudl say you are an administrative assistant for a minor client. (I have nothing else, sorry )
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Old 11-05-2010, 09:21 AM
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Good luck anyone trying to get a homeowners loan being a daycare provider. We tried to refinance after hubby got permanently laid off, and the bank said I did not make enough money after deductions to qualify for a loan, we owe 8years on our home, wanted to combine our home loan and home equity loan, and it would of saved us $300 per month. They wouldn't do it. Funny thing, we have kept up all our bills on my income alone, never made a late payment, yet they wouldn't help us to save us $300 per month. So rediculous, and so wrong. This whole bank mess is a flipping joke. Anymore a person is better off not working and living off the system.....you get it all handed to you. Our world anymore is only for the rich or the poor cuz those of us who fall in between are left to rot.
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Old 11-05-2010, 11:59 PM
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LOL, I know how bills and financing go. I'm at a toss-up between doing what I love (caring for kids) and doing what I was instructed to do my our mortgage lender (work for a short time in the administrative field). I'm still going to look for administrative work because it is what makes sense....but I would get paid more working with the kids (Two-three times as much actually!). All I need is a way to say that nannying/household manager is administrative work. I can't have anything that is related to directly caring for the children (even though the parents and I both know that). Once I get approved for this loan, I can quit the administrative job (keep the nanny job and daycare job) and look for a house then open my own daycare....which is all I dream about, LOL.

I can say I am a household manager instead of nanny. I work 8 am to 5 pm full-time weekdays to assist the **** family. I must use good judgement (care of children), answer requests in a timely and professional manner (feed/change diapers). I'm expected to dress appropriately and arrive on time because I am part of the team. (I need to wear appropriate clothing around the kids, duhh, but it can work! and it is team work! LOL) Must be able to multitask (keep an eye on multiple children at once). Must be very organized and be able to take direction under others. (Having the kids alone requires organization and taking direction would be when the parents ask me to do something differently.)

See where I am going???? If anyone can help me come up with things like this in the next few days I would really appreciate it.

The mother will pay me and we will report all the income. I would just be independently employed. I wouldn't get pay stubs, but I would still claim it so that should be enough. I could even copy all the checks before I deposit them as proof they are from the same person on a regular basis.
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Old 11-06-2010, 06:37 AM
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I used to work in the mortgage industry and i know how hard it is to get someone to qualify and be within guidelines (and believe me it was frustrating when you had the perfect loan for the client and you couldnt do it because of a small technicality!).

Here is what I think you should do:

- ask a few more questions from your mortgage guy (what I am thinking he is advising you to do is get a regular W2 job. Once you are considered self employed (i.e. pay taxes at the end of the year instead of with every paycheck), the guidelines are TOTALLY different.

When I did mortgages, we could use part time income if the client had worked at the W2 job for at least 6 months. When it was considered self employed income or 1099, we had to have 2 FULL tax returns claiming the income before we could use the income.

- I would also ask the rep how much you need to make to qualify. If it's a small amount, you might be able get a part time administrative job where you work a few days a month and keep your nanny/daycare job.

- Another option would be doing the financing under just your hubbys name. You would still be on the title of the home (meaning you still own it), but the financing would be just under his name. The way that helps is by removing your name from the application, they also remove any of your monthly obligations/payments

- I would also ask the rep what else is there that you need to do to qualify. You dont want to get the part time job and 6 months later he tells you that there is something on your credit that doesnt qualifly or something silly (a judgement, any medical collections, etc.)

- Then finally - I would shop another lender. Most lenders dont charge to do an initial application for a purchase. Depending how badly you want this loan, you can also go to a broker. Overall it will cost you more in fees, but the broker will shop around with lenders that they know can do the loan. I would just recommend that before you go with a broker, educate yourself (know what your credit scores are, what the going rates are, etc.) Brokers are licensed and more heavily regulated now than they were before but because of some the 'bad apples' that were out there, we are all now dealing with the real estate foreclosures and issues. (sorry not a fan of BAD brokers!)


good luck and PM me if you have more specific questions... that was my life before daycare
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