I'm finishing fellowship in June 2009 and signed a letter of hire for a position starting in July 2009. We've been renting for past 18 months due to a decrease in income and wanting to find a good school district & neighborhood. We had two previous homes owned on the basis of spouse's income and due to very fortunate timing of sale of last home, have 10-15% down payment saved. Our local real estate market is depreciating, but not double digits and still very few foreclosures. We have a good credit history and no debt (not even med school), but only one income (mine). The Problem: I would love to get into a mortgage and close on a home in June so I'm unpacked before the new job starts, but local mortgage people are looking at me like I'm crazy. I've been told things ranging from "Call us once you've established 6 months at the new income level" to "We couldn't provide you any assurance based upon a letter of hire or even a contract due to the recession." Any thoughts on garnering better options in this economy? I'm waffling between hoping a personal relationship with someone local would be more fruitful, to casting a wider national net and hoping that it doesn't fall through in the underwriting. This is frustrating given the mortgage considerations my colleagues who graduated in June 2008 were given for their mortgages.